5-Aug-2009 10:40 AM

Air New Zealand CFO warns of further airline bankruptcies, consolidation and funding challenges

Air New Zealand CFO, Robert McDonald, warned of further airline bankruptcies and consolidation, as a potential stabilisation in global aviation demand is offset by rising fuel prices and funding challenges (Dow Jones, 04-Aug-09). Mr McDonald stated airlines will face increasing funding challenges in 2H2009 and early 2010, as carriers seek to finance aircraft delivery obligations amid tight credit market conditions.