The New Zealand government announced new military spending of 2.7 billion New Zealand dollars ($1.6 billion) on Thursday to replace aging aircraft, including helicopters, that it plans to purchase from the United States.
Cabinet ministers unveiling the package cited rapidly growing global tensions and a deteriorating security environment, the _Associated Press_ reported.
The acquisition of military planes and helicopters marked the first procurement under a government plan unveiled in April to double defense spending from 1% to 2% of GDP over the next decade.
The package includes five MH-60R Seahawk helicopters to replace the existing maritime fleet and two Airbus A321XLR aircraft, allowing the retirement of Boeing (BA [https://seekingalpha.com/symbol/BA]) 757s that are more than 30 years old and were already secondhand when purchased.
The helicopters accounted for more than NZ$2 billion of the spending, officials said.
Defense Minister Judith Collins said her government would “move at pace” to procure the helicopters directly through the United States' foreign military sales program instead of going to a wider tender. Cabinet ministers were expected to consider the final business case in 2026, she told reporters in Wellington on Thursday.
MORE ON ISHARES MSCI NEW ZEALAND ETF
* New Zealand cuts rate by 25 bps to 3-year low [https://seekingalpha.com/news/4487253-new-zealand-cuts-rate-by-25-bps-to-3-year-low]
* Reserve Bank of New Zealand cuts rate by 25 basis points, projects deeper easing cycle [https://seekingalpha.com/news/4452757-reserve-bank-of-new-zealand-cuts-rate-by-25-basis-points-projects-deeper-easing-cycle]
* Seeking Alpha’s Quant Rating on iShares MSCI New Zealand ETF [https://seekingalpha.com/symbol/ENZL/ratings/quant-ratings]
* Dividend scorecard for iShares MSCI New Zealand ETF [https://seekingalpha.com/symbol/ENZL/dividends/scorecard]
New Zealand unveils $1.6B military spend to replace aging aircraft with U.S. purchases
Published 2 months ago
Aug 21, 2025 at 6:02 AM
Negative
Auto