As the global aviation industry continues to battle against the tourist fallout from COVID-19, one airline is set to make a significant change today.
The airline, which said today it has yet to draw on the government’s $900m loan, says while the recent move to Alert Level 2 allowed it to get its domestic engine turning again, it is clear that it will take some time for demand to return to pre-COVID levels.
It currently has $640 million of short-term liquidity, versus $1 billion prior to the outbreak. That doesn’t include any of the $900 million government loan facility. It has deferred or cancelled almost $700 million in expected capital expenditure to December 2022, including deferrals of planned A321 NEO deliveries.
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