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NZ's Sounds Air to downsize despite new gov't loan programme
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NZ's Sounds Air to downsize despite new gov't loan programme
The New Zealand government has announced a loan package of up to NZD30 million (USD17.6 million) for at-risk regional airlines, but the support has come too late for Sounds Air (S8, Picton), which has already sold aircraft and made staff redundant. The government announced on September 1 that the funding will be administered by the regional development unit Kānoa and will take the form of concessionary loans from the regional infrastructure fund…
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