Air New Zealand chief executive Greg Foran buys NZ$1m worth of shares

Air New Zealand CE Greg Foran has purchased NZ$1m worth of shares in the airline following the completion of its $1.2b capital raising. A disclosure note issued by the company to the New Zealand stock exchange on Friday said Foran bought 1.46m Air New Zealand shares worth $1m, across two transactions on Tuesday and Wednesday. Foran previously held no shares in Air New Zealand, although he does hold 2.3m in rights which can be converted to shares. Air New Zealand disclosed that directors and senior managers also bought shares recently. Among those were chairperson Dame Therese Walsh, director Dean Bracewell, chief people officer Nikki Dines, chief customer and sales officer Leanne Geraghty and chief operational integrity and safety officer David Morgan. Air New Zealand’s share price has dropped considerably since late March, when it announced a $2.2b recapitalisation plan to help repay its debts and improve liquidity.<br/>