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Air NZ delays financial report.(Air New Zealand Ltd.)(Brief Article)
Byline: Giles Parkinson
SYDNEY -- Air New Zealand Ltd. will delay the release of its annual results by more than a week as it awaits government ruling on a refinancing proposal by major shareholder Singapore Airlines Ltd.
Air NZ wants approval for SIA to lift its stake from the government-imposed limit of 25% to 49%. The government has balked at the proposal, saying it wants the airline to maintain its national identity and ownership.
Air NZ is expected to announce a loss of up to NZ$200 million ($88 million) when it releases its results Sept. 13. Most of those losses will come from its Australian airline, Ansett, which has struggled under the …
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