Quote:
"Ansett made 190 million dollar profit the year before ANZ got hold of it
Tell me, What had it made in the years before that? Might I suggest another News Corp manipulation of the books to make it look good for any prospective purchaser. Not to far different to what they did here in NZ with Ansett NZ.
News Corp raped and pillaged Ansett.
Mate a few facts for you.
ANZ owned a 45% stake in Ansett with newscorp owning the other 50%. Singapore Airlines wanted the other 50% and in a web of politics and corporate deals Singapore was prevented from the deal under the table by Qantas and ANZ bought the remainder to keep Singapore out. If Singapore bought it they would still be flying today and
VB would have gone tits up or remained something similar to Alliance in niche markets and mining/regional RPT.
ANZ with a 45% stake in the company already, had to know exactly what they were buying. To blame engineering practices when they stole all the spares is ludicrous and even more insane that they were mislead with the state of the companies finances when they already had a major share in the company. Bottom line is they borrowed too much, paying to high a price for the remainder and then when the 9/11 fallout hit and the revenue dropped they picked the carcass to prop up ANZ until it was either sacrifice the minor or the major.
IMO it would have been more prudent to piss of ANZ fly Ansett into the green and relaunch ANZ as a leaner greener machine.
10,000 jobless Kiwis is nothing to the 16,000 that were left in the lurch in AU along with 40 related suicides of which many of us were affected.
So keep competing with each other to get into your holy grail ANZ, just remember that it is still there because it shafted just about every Australian family doing so.
