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Outcome Of PwC Review Into Air New Zealand Gas Turbines Business

Friday, 9 April 2021, 9:46 am Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting business, as well as key areas where processes could be improved. “Recommendations include more focus on upfront risk assessment, which has already been put in place, and subsequent monitoring controls. “The report also confirmed that when entering into the third-party contract for the work for the Royal Saudi Navy, Gas Turbines employees adhered to all revenue contracting management oversight processes and controls and obtained the

Government s $600m loan expansion to Air New Zealand comes with a warning

Government s $600m loan expansion to Air New Zealand comes with a warning 9 Apr, 2021 06:03 AM 7 minutes to read The Government has delivered a $600m loan extension and a warning to Air NZ. Photo / Brett Phibbs The Government has delivered a $600m loan extension and a warning to Air NZ. Photo / Brett Phibbs Aviation, tourism and energy writer for the NZ Heraldgrant.bradley@nzherald.co.nz@gbradleynz The Government is extending its loan facility to Air New Zealand by $600 million but at the same time giving the airline a frank and detailed reminder of what s expected from it. Taxpayer backstop loans to the airline now total $1.5 billion and shareholding minister Grant Robertson has written to the airline reminding it of the Government s support to date and what it expects as an active majority shareholder .

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