Air New Zealand cancels $400 million Crown Standby Facility

Stock exchange listings: New Zealand (NZX: AIR) / Australia (ASX: AIZ) / ADR (OTC: ANZLY)


MARKET ANNOUNCEMENT

Air New Zealand postal address: Private Bag 92007, Auckland, 1142, New Zealand
Investor Relations email: investor@airnz.co.nz
Investor website: www.airnewzealand.co.nz/investor


25 March 2024

Air New Zealand cancels $400 million Crown Standby Facility

Air New Zealand announces today it has cancelled the $400 million unsecured committed Crown
Standby Facility (“the Facility”) which was entered into on 30 March 2022 as part of the airline’s
recapitalisation package following the Covid pandemic.
The Facility was established to protect against uncertainty relating to the pandemic and New
Zealand’s border re-opening but was never drawn on by Air New Zealand. The cancellation of the
Facility now concludes the period of pandemic-related financial support provided by the Crown to
Air New Zealand. The Crown remains a majority shareholder in the airline with a 51% holding.
The airline has appointed ANZ Bank New Zealand Limited and MUFG Bank, Ltd. as Mandated
Lead Arrangers and Bookrunners in connection with the arrangement and syndication of a new
unsecured revolving standby facility, expected to close before 30 June 2024.



Ends
This announcement has been authorised for release to NZX and ASX by Jennifer Page, General
Counsel & Company Secretary (jennifer.page@airnz.co.nz).

For investor relations queries, please contact: For media enquiries, please contact:
Kim Cootes, Head of Investor Relations Air New Zealand Communications
kim.cootes@airnz.co.nz media@airnz.co.nz
+64 27 297 0244 +64 21 747 320