Air New Zealand pumped plenty of money into Air Nelson so it could take over the F27 flying. Air New Zealand sent their own management to Air Nelson to run the new operation because the CAA demanded it.
Some Air NZ pilots were made redundant because effectively their jobs on the F27 were now with Air Nelson. The cost of operating the F27 at Air NZ was huge and the revenue was nothing.
Air NZ did not even try to negotiate with the pilots, it just set up the new operation. The same thing happened again with Freedom.