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The Royal New Zealand Yacht Squadron is projecting a trading loss of $1.6 million ahead of their next meeting. Thursday's meeting will "immediately" review their operations to find a more sustainable business model. BusinessDesk managing editor Pattrick Smellie says these losses are tied to the two years of Covid-19 that the Royal New Zealand Yacht Squadron endured. Pattrick Smellie says that RNZYS have lost a huge number of members since the America's Cup left New Zealand for Barcelona, which likely contributed to financial losses. LISTEN ABOVESee omnystudio.com/listener for privacy information.