Air NZ to go live on the ASX

By Felicity Anderson, Nzoom.com Business News Editor

Thursday 18th October 2001

Air New Zealand will be back live on the Australian Stock Exchange from the opening of trade on Friday.

The ASX says its decision follows advice from the airline that it has completed agreements with its key bank financiers and has their ongoing support.

The airline also confirmed to the stock exchange that all the conditions to it getting the first $300 million tranche of a $885 million loan from the New Zealand Government have either been satisfied or waived.

Air New Zealand has been suspended from trading by the ASX since September 14. The Australian exchange was far more staunch than its New Zealand sister (NZSE), which suspended trading, reinstated the stock and finally suspended it again at the airline's request during the weeks negotiations took place over the recapitalisation of its balance sheet.

Air New Zealand last traded on the ASX at A59 cents.

On Thursday on the NZSE Air New Zealand's A shares are hovering around 30c, up 1c, on volume of 384,142 shares. The Bs were at 28c on volume of 372,899.

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