Ann: Air NZ updates on capital raise timing and liquidity, page-222

Ah - back in the day when they made a profit and had over $2,000m in net assets. With $2.2b in current assets vs $2.6b in current liabilities

Nowadays they are making a loss with net assets of $811m And current assets of $703m vs current liabilities of $2,653m

I simply don't see those glory days on the horizon.

I think people have lost sight of the reason for the capital raise - which is essentially to shore up the balance sheet. Its not like they have asked for cash to buy new planes so they can expand their routes and PAX. Which is why I reckon another one or two more capital raises are on the cards.