Originally Posted by
DanV2
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.
Selwyn Cushing was Brierley Investment's man in Air NZ - the acquisition of the second half of Ansett was a gambit to offload Brierley's Air NZ shareholding to SIA
This article is worth a read
The Air New Zealand crash - sharechat.co.nz