While all that is true, it was a little more involved than that, particularly the involvement of various Australian Governments and Air NZ.
After Compass had been operating for some time, and had picked up many new contracts, particularly with cargo, Air NZ were going to buy into and save Compass, as it was the ONLY way they could see to break into the Aussie market. Air NZ was ''convinced'' by the Australian Government not to rescue Compass on the assurance that the Government were going to introduce an open skies policy, and Air NZ would be able to operate IN Australia without buying Compass.
This of course did NOT happen once Air NZ backed out of the deal, and the Australian Government (primarily) closed Compass.
This left Air NZ, after being betrayed by the Australian Government, with only one option, to get hold of Ansett.
While I agree, the ultimate demise of Ansett was mainly because of Air NZ, they are NOT the only ones to blame.