Air NZ restructures its support package with government

The updated package gives the airline a cash reserve it can tap into that isn't entirely debt.

The new agreement would give the national carrier the ability to issue up to $1 billion of non-voting shares to the government, while reducing its existing debt facility from $1.5b to $1b, with an extended term to 2026.

The revised package would raise the overall financial support available to company from $1.5b to $2b.