HI Guys
Let me be upfront by saying i'm ex Ansett ground ops.
From my point of view the best outcome at the time would have been for SQ to buy the second 50% of AN as they seemed pretty keen on doing. History will show that ANZ exercised their preemptive rights for the purchase of the second 50% of AN as was their right under the terms of the first sale.
Having said that two words spring to mind "due diligence". I can't for the life of me understand what possessed the ANZ management to make the purchase (nearly sending ANZ to the wall in the process) if they were fully aware ot the state of AN's books. I'll be the first to admit that the cupboard was bare and the value of the assests questionable in the overall scheme of things at the time.
I'm not suggesting that the sale to SQ was a done deal. I,m also not naive enough to realise there were probabily serious political issues involved in the process.
Don't get me wrong, i'm not bitter and twisted and with the exception of one person i hold no grudges and have moved on.
Best regards to all.
Fly safe and play hard.
Hoss58