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

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

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Why did Air New Zealand recognize the impairment loss on aircraft 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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