Originally Posted by
Section28- BE
Look- I reckon, The News stake in AN going direct to SIA, and hence had to go ANZ....???
Rgds
S28- BE
Air New Zealand used their veto rights to block SIA from acquiring 50% of Ansett the first time around. The government had nothing to do with SIA buying Ansett the first time around.
NZ used their veto (acquired from when they purchased the first 50% from TNT) so they can fully own Ansett, despite fully knowing they had a "crap" balance sheet to fix AN, purely due to Selwyn 'Borghetti' Cushing's ego.
It was at this point when the start of the end for Ansett began, with then-CEO Eddington resigning from Ansett shortly after to head BA, and "Borghetti-Cushing" putting in his hapless sidekick Gary Toomey as CEO of the combined identity.
https://australianaviation.com.au/20...sett-collapse/