Air New Zealand (NZ, Auckland International) has redeemed the remaining NZD200 million dollars (USD124.8 million) of redeemable shares on issue to the New Zealand government, part of a broader NZD2.2 billion (USD1.37 billion) recapitalisation package that saw the airline previously redeem NZD400 million (USD249.6 million) worth of shares in June.

In addition to the NZD600 million (USD374.4 million) share redemption program, the recapitalisation package involved a NZD1.2 billion (USD750 million) renounceable rights offer and an unsecured NZD400 million loan from the government.

Air New Zealand's latest profit guidance issued in September revealed strong forward booking sales and the airline at the time said it was operating at around 70% of pre-pandemic capacity. The latest passenger traffic data for October reveals that the airline flew 1.25 million passengers that month and enjoyed an 88.7% load factor. However, the overall October 2022 passenger numbers still slightly lag the comparable October 2019 figure of 1.38 million.

Air New Zealand advises that with the final share redemption completed, the facility is now cancelled.