Asian Airline to Buy Air New Zealand?
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Join Date: Sep 2003
Location: Land of the long white cloud
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Asian Airline to Buy Air New Zealand?
So goes the rumours. Apparently this is being discussed at cabinet level (being mainly Govt Airline).
Good one Helen, ya great snaggel toothed monster.
Good one Helen, ya great snaggel toothed monster.
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....sdads..... you need to get with the programme......it may come as news to you....
But every airline in the world is up for sale.....even on E-bay
But every airline in the world is up for sale.....even on E-bay
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I hope whoever buys it does their due diligence. After all they want to make sure they don't buy a lemon , as NZ P.M Danny La Rue correctly called Ansett in the wash up post that debacle!
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Asian airline buying Air NZ
What ever deal goes through, you can be sure that Emirates and Singapore will be behind any consortium to grab a slice of Air NZ's lucrative North American route, and evetually South American. In fact any airline would jump at servicing the South American route as this would be a one stop hope to Asia. Only Air NZ would not have the foresight to do that. Look at Aerolineas and LAN, they have noth increased their frequencies to AKL and SYD!!!
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Maybe it has something to do with this ??
Air NZ dives as Qantas ends up with bigger stake
Air New Zealand shares had their biggest fall in three years yesterday, falling 5.5 per cent or 12c to $2.05, on fears Qantas will dump its enlarged stake in the airline on the market.
The Australian airline became Air NZ's second-largest shareholder after the Government yesterday in a final twist of the failed plan for the two companies to merge on Tasman routes. Qantas now owns shares worth $91.4 million or 4.2 per cent of the company.
As part of the original code share plan, Qantas was to have taken a 22 per cent stake in Air NZ and paid about $98 million for redeemable preference shares in 2002 in preparation for taking the bigger stake conditional on regulatory approval.
However, that agreement was formally scrapped yesterday and Qantas then redeemed the preference shares.
Market opinion is that Qantas is likely to sell the stake - particularly if it is bought by a cash-hungry private equity consortium in deals being worked through across the Tasman.
Either way, a 4.4 per cent stake is not strategically significant given the large majority stake owned by the Government.
Air New Zealand shares had their biggest fall in three years yesterday, falling 5.5 per cent or 12c to $2.05, on fears Qantas will dump its enlarged stake in the airline on the market.
The Australian airline became Air NZ's second-largest shareholder after the Government yesterday in a final twist of the failed plan for the two companies to merge on Tasman routes. Qantas now owns shares worth $91.4 million or 4.2 per cent of the company.
As part of the original code share plan, Qantas was to have taken a 22 per cent stake in Air NZ and paid about $98 million for redeemable preference shares in 2002 in preparation for taking the bigger stake conditional on regulatory approval.
However, that agreement was formally scrapped yesterday and Qantas then redeemed the preference shares.
Market opinion is that Qantas is likely to sell the stake - particularly if it is bought by a cash-hungry private equity consortium in deals being worked through across the Tasman.
Either way, a 4.4 per cent stake is not strategically significant given the large majority stake owned by the Government.
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Air New Zealand shares had their biggest fall in three years yesterday
