Government subsidies

Air New Zealand expects to report a full-year loss of under $450m

In an update to the market, the national carrier says it had not drawn down any further on its loan from the government.

It said the recovery in domestic travel and the government's contribution to its cargo business had been a significant factor in mitigating the effects of Covid-19.

In February the company posted a net loss of $72 million for the six months ended December and said it had taken significant steps to cut costs.