Air NZ reveals the millions it loses due to lockdown and suspended Tasman travel

Alert level 3 or 4 travel restrictions across New Zealand cost Air NZ between $45m and $55m a month, the airline says. In an update to the New Zealand stock exchange on Friday morning the national carrier said the monthly impact of an Auckland-only level 3 or 4 travel restriction, with the rest of New Zealand operating at level 1 or 2 is about NZ$25m to $35m. The figures include the benefits of the any wage subsidy the airline received, it said. Air New Zealand received about $17m in wage subsidies for the Delta outbreak. The monthly impact of suspension of trans-Tasman travel is about $20m to $25m, it said. The company said it was providing the figures as an update on the impact of lockdown and of the ongoing suspension of trans-Tasman quarantine-free travel on the company’s short-term financial performance, as well as an update on liquidity. The company recently requested additional drawdowns on a government loan facility. Drawdowns, including the latest request, total $435m, with $1.065b remaining in the facility. The airline is operating about 50 cargo flights per week and there is strong demand for air travel across regions in New Zealand that are under level 2 restrictions.<br/>