New Zealand's flagship airline announces a plan to raise $1.5 billion to hire more staff, buy new planes and expand its routes as it seeks to rebuild from deep losses caused by the coronavirus pandemic.
The Associated Press
Under the plan, the airline would raise 2.2 billion New Zealand dollars . About 55% of the new money would come from an offer to existing shareholders, under which they can buy new shares at a steep discount to the last trading price. For two years, New Zealand imposed some of the world’s toughest border restrictions, extinguishing a once-thriving international tourism industry.
Airline Chief Executive Greg Foran said its top priorities were to grow its domestic business, optimize its international routes and grow its loyalty program.
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