Air New Zealand receives $900mil bailout

By Te Ao - Māori News

Air New Zealand will be able to continue with essential services following the government's $900mil financial lifeline.

Finance Minister Grant Robertson says the loan comes with a number of conditions including the possibility of the government expanding its 52% stake in the company and other key services.

Air New Zealand's CEO Greg Foran says that even with the Govt's bailout, 30% of their existing 12,500 staff would not be needed.