Air New Zealand shortfall
Air New Zealand (AIR) was aiming to raise around US$827m (NZ$1.2bn) via a renounceable rights issue. It has now launched a shortfall of around US$153m, at last close.We have covered the background of the rights and expected shortfall in our earlier note, Air New Zealand Rights and possible shortfall - Delayed boarding but its priced to fly.
In this note, we talk about the recent updates and shortfall pricing.
Air New Zealand is engaged in the transportation of passengers and cargo on an integrated network of scheduled airline services to, from and within New Zealand. Through its subsidiaries, Co. is also engaged in aviation, aircraft leasing and financing, investments, and engineering services. Co.'s geographical segments are New Zealand, Australia and Pacific Islands, United Kingdom and Europe, Asia, and America.
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