Air NZ gets NZ$900m loan from govt

New Zealand's govt will make a NZ$900m (US$506m) loan available to Air NZ, the airline said Friday, as the carrier grapples with the travel restrictions brought on by the coronavirus outbreak. It comes as New Zealand's central bank announced emergency measures Friday including term loans to banks, intervention in markets and an agreement with the US Federal Reserve to access up to US$30b to support the economy from the impact of coronavirus. "The measures we are implementing today provide additional support to domestic financial markets. We will ensure our operations make financial markets operate smoothly, assistant governor Christian Hawkesby said. A Term Auction Facility (TAF) will give banks the ability to access term funding, with collateralised loans available out to a term of 12 months. <br/>