Nosejob,longdong and all you other Aussie prats who have submitted your "helpful" replys to this post, TAKE YOUR'E HAND OFF IT!!!
AN was a dog and no amount of money would have been found to save it. Old, nay ancient aircraft and a fat, inefficient and lets face it arrogant workforce (talk to anyone in NZ flt ops as to the attitude). You fellas had no idea what routes were profitable and what was not and in the end you tried to take your parent under with you.Granted Air NZ made a foolish decision to invest in the first place and BIL and its representatives probably had a more than disproportionate hand in this event. But I think that SQ is breathing the biggest sigh of relief, sure a write down proportional to their investment but far less an amount than if they did go the whole hog on their own.
Now lets look at SQ, had a foray into India and China with no result, 49% of an ailing Virgin Atlantic and have said that they are not really interested in pouring funds into it. Do ya really think they wouldn't have gone the same way NZ eventually went (cut it loose)...do ya!!!
And lets also talk about something already touched on earlier in this post, Gov't assistance. The NZ Gov't have in effect taken a share holding in NZ and, granted they had little choice, but still endeavouring to keep within the bounds of business practice. Now, lets look at why the whole AN deal happened in the first place...QF. And more to the point the the preferential and, lets face it, shonky dealings of past Aussie Gov'ts. Firstly "forgiving" hundreds of millions of Australian airlines debt in the merger (best business practice...yeah right) and most significantly "Open skies"...nuff said.
now I have that off my chest lets talk about the point at hand.