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Air New Zealand recognised an impairment loss of $338 million on aircrafts during the year ended 30 June 2020. Required Why did Air New Zealand

Air New Zealand recognised an impairment loss of $338 million on aircrafts during the year ended 30 June 2020.

Required

Why did Air New Zealand recognise the impairment loss on aircrafts during the year ended 30 June 2020?
How is impairment loss calculated under NZ IAS 36?
Give the journal entry for the aircraft impairment loss of Air New Zealand.

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