Things are looking worse than ever before.
As reported by the IRN:
Liquidation May Not Be Far Off: ACT
ACT believes Air New Zealand may be forced to put its subsidiary Ansett Australia into liquidation.
Party leader Richard Prebble says the Government has been looking into the Air New Zealand situation for the last three months, but has achieved nothing.
With Ansett losing about $500 million a year, Mr Prebble says the Government should have given Singapore Airlines the go ahead to buy into Air New Zealand at $1.31 a share, long ago.
He says the shares are now worth a lot less.
Richard Prebble believes Ansett could be in the hands of liquidators as early as tomorrow.