Air New Zealand Limited
Pursuant to section 59 (2) of the Public Finance Act 1989, the Minister of Finance makes the following statement:
On 24 September 2001, the Minister of Finance gave an indemnity to Air New Zealand Limited, in respect of claims in connection with losses in those circumstances defined by Lloyd's Aviation Underwriters Association Standard Forms and Endorsements of Policies War,
Hi-Jacking and Other Perils Exclusion Clause (Aviation) AVN 48B (1 October 1996) of up to US$2 billion for any one event to the extent that any claim cannot be met by insurance. Air New Zealand Limited will use all reasonable commercial endeavours to obtain insurance to cover those risks indemnified by the Crown under this indemnity.
This indemnity will be terminated at such time that
Air New Zealand Limited is able to obtain insurance to cover risks met by this indemnity.
Dated at Wellington this 17th day of October 2001.
DR MICHAEL CULLEN, Minister of Finance.