The only thing worth doodly squat about NZ is it's people, and Pacific basin network.
QF must have eyes on codesharing (and not having to use their own people or rescources) into Pacific basin ports - like now not operating one single rat into PPT - all codeshare on TN (kinda spooky that).
NZ would also no doubt be forced to relinquish Star Alliance membership and that would leave a gaping hole in their global network, as serious as the hole in the One world network left after AC swallowed CP on the Canadian scene.
I can smell an SQesque plot here. Invest 500 mil - watch it collapse and step in with the 5th freedom rights granted through codeshares. If not for 9/11 Aussie domestic skies may have been a little different today.
Instant intra Pacific network for Australian or mainline according to market, and closure of the QF worldwide network over LAX to FRA and LHR.
Methinks the Rat does not want partial NZ ownership for it's potential profit, but to be in the box seat for a meltdown and the associated spoils.
Poor Air Tahiti Niui may see the shortest codeshare relationship in living memory.
Maybe Rene is actually saying buy buy buy.
Best all
EWL