RUTB
This is not, repeat not a personal attack on kiwis, but you must be aware that over 16000 people were terribly let down yesterday by Air NZ management over which the Air NZ board must assume the mantle of corporate responsibility.
The market place right now is full of stories about just how close Air NZ itself is running to the wire and how long it is able to trade before crossing the line into insolvency. Reduced pacific and trans tasman revenues and on going industrial action will dramatically affect the situation.
Time is up for the Air NZ board.
Any critical analysis of the events over the last 4 years as revealed in other posts here and elsewhere will show just how corporate irresponsibility has led to the position we are at now.
Given the state of the NZ economy and the huge percentage of reserves that a collapse of Air NZ would drain from the government coffers, it may well come to the same situation as Ansett with creditors wearing huge losses.
This is a story about two great airlines that have been stripped and thrown to the wolves through greed and mismanagement over long periods of time.