I think the further we stay away from the AN issue the better.
Brief summary: NZ Herald 26 NOV 02.
Key points...
* Qantas buys 22.5 per cent of Air New Zealand for $550 million in three stages.
* Government's 82 per cent shareholding in Air NZ (bought from last year's $850 million taxpayer bailout) diluted to 64 per cent.
* Qantas appoints two members to Air NZ board. One Air NZ member joins Qantas board.
* New group with equal representation from the two airlines co-ordinates entire Air NZ network and Qantas flights to, from and within NZ.
* Air NZ manages all Qantas and Air NZ transtasman and New Zealand domestic services, including pricing and scheduling.
* Air NZ and Qantas retain own brands but codeshare on routes in New Zealand, Australia, across the Tasman, and to and from North America.
* Air NZ retains airpoints programme. Applies to Qantas services in time.
* Air NZ estimates deal worth $1 billion to NZ economy over five years.
* No job cuts but 200 more engineering jobs, mainly in Christchurch.
* Deal faces tough regulatory hurdles.