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Air New Zealand begins drawing down government debt facility

SYDNEY, Sept 25 (Reuters) - Air New Zealand Ltd said on Friday it had begun to draw down on a NZ$900 million ($589.95 million) government debt facility that would give it time to review its capital structure and complete a capital raising by June 2021.

The airline said the New Zealand government had reaffirmed its commitment to maintaining a majority shareholding and its board was in constructive talks with the government about its capital structure and funding.

New Zealand is due to hold a national election on Oct. 17. ($1 = 1.5256 New Zealand dollars) (Reporting by Jamie Freed; Editing by Himani Sarkar)

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