Qantas may buy stake in Air NZ
Thread Starter
Join Date: Mar 2001
Location: Townsville,Nth Queensland
Posts: 2,717
Likes: 0
Received 0 Likes
on
0 Posts
Qantas may buy stake in Air NZ
Qantas may buy stake in Air NZ, say analysts
By GEOFFREY THOMAS
PERTH
Saturday 15 December 2001
Speculation mounted yesterday that Qantas would reopen discussions on taking a stake in Air New Zealand, after the Australian airline declined to reveal the nature of talks to be held with the NZ Government next week.
Analysts suggested Qantas wanted to float another range of ownership proposals that would include the Australian airline buying a stake in Air NZ and the NZ airline taking part of British Airways' 21 per cent stake in Qantas.
Qantas requested the meeting between chief executive Geoff Dixon and NZ Finance Minister Michael Cullen in Wellington on Wednesday.
The last time the two met, Ansett was still part of Air NZ and Qantas was promoting the concept of buying Singapore Airlines' 24.9 per cent stake in the NZ airline and selling Ansett to the Singaporeans.
A spokeswoman for Mr Cullen said yesterday that the meeting was requested by Qantas but the Australia carrier did not say what it wanted to discuss. The NZ Government will have an 83 per cent stake in Air NZ if shareholders approve the taxpayer-funded $NZ885 million ($A714 million) bailout of the airline on December 19.
According to NZ-based analysts, Bill English, the leader of NZ's main opposition party, National, believes the NZ Government is keen to sell some of the national carrier to Qantas.
Mr Cullen's office said the government wasn't ruling out selling part of its stake in Air NZ to Qantas or another airline at some point in the future.
"Mr Cullen has said throughout that the government sees itself as a long-term majority shareholder," a spokeswomen said. "He has also said that doesn't mean they wouldn't be interested at some stage in selling a cornerstone shareholding to an airline."
However, the analysts have warned that the NZ Government was going to have to pour more money into Air NZ and an equity alliance with Qantas would solve that drain on NZ taxpayers.
Qantas' arch rival Singapore Airlines was still a shareholder in Air NZ but at a diluted level of just 4 per cent. Former Air NZ chief executive Gary Toomey said in October, when he resigned from the airline, that Air NZ needed to form a strong alliance with a major regional carrier and Qantas was the logical choice.
[ 14 December 2001: Message edited by: Wirraway ]
By GEOFFREY THOMAS
PERTH
Saturday 15 December 2001
Speculation mounted yesterday that Qantas would reopen discussions on taking a stake in Air New Zealand, after the Australian airline declined to reveal the nature of talks to be held with the NZ Government next week.
Analysts suggested Qantas wanted to float another range of ownership proposals that would include the Australian airline buying a stake in Air NZ and the NZ airline taking part of British Airways' 21 per cent stake in Qantas.
Qantas requested the meeting between chief executive Geoff Dixon and NZ Finance Minister Michael Cullen in Wellington on Wednesday.
The last time the two met, Ansett was still part of Air NZ and Qantas was promoting the concept of buying Singapore Airlines' 24.9 per cent stake in the NZ airline and selling Ansett to the Singaporeans.
A spokeswoman for Mr Cullen said yesterday that the meeting was requested by Qantas but the Australia carrier did not say what it wanted to discuss. The NZ Government will have an 83 per cent stake in Air NZ if shareholders approve the taxpayer-funded $NZ885 million ($A714 million) bailout of the airline on December 19.
According to NZ-based analysts, Bill English, the leader of NZ's main opposition party, National, believes the NZ Government is keen to sell some of the national carrier to Qantas.
Mr Cullen's office said the government wasn't ruling out selling part of its stake in Air NZ to Qantas or another airline at some point in the future.
"Mr Cullen has said throughout that the government sees itself as a long-term majority shareholder," a spokeswomen said. "He has also said that doesn't mean they wouldn't be interested at some stage in selling a cornerstone shareholding to an airline."
However, the analysts have warned that the NZ Government was going to have to pour more money into Air NZ and an equity alliance with Qantas would solve that drain on NZ taxpayers.
Qantas' arch rival Singapore Airlines was still a shareholder in Air NZ but at a diluted level of just 4 per cent. Former Air NZ chief executive Gary Toomey said in October, when he resigned from the airline, that Air NZ needed to form a strong alliance with a major regional carrier and Qantas was the logical choice.
[ 14 December 2001: Message edited by: Wirraway ]
Thread Starter
Join Date: Mar 2001
Location: Townsville,Nth Queensland
Posts: 2,717
Likes: 0
Received 0 Likes
on
0 Posts
ACT Party Says Any Sale Of Air NZ Stake Must Be Open
WELLINGTON (Dow Jones)--Any sale of the government's upcoming shareholding in Air New Zealand Ltd. should be via an open, competitive tender, Richard Prebble, leader of the opposition ACT Party said Friday.
"A private sale of shares to Qantas, as rumored, can't be justified," Prebble said in a statement.
"First, the government would have no way of knowing whether another airline or shareholders would bid more for Air New Zealand, and second, any ownership by Qantas raises monopoly concerns," he added.
Qantas Airways Ltd. Chief Executive Geoff Dixon will meet New Zealand's Finance Minister Michael Cullen Wednesday on speculation the government wants Qantas to become a major shareholder in the local carrier.
The government will have an 82% stake in Air New Zealand if shareholders next week approve a proposed multimillion dollar, taxpayer-funded bailout of the loss-making airline.
Cullen has said his coalition government sees itself as a long-term majority shareholder, but he has also said that that doesn't mean it wouldn't be interested at some stage in selling a cornerstone shareholding to another airline.
-By Chris Ritchie, Dow Jones Newswires; 644 4715990; [email protected]
WELLINGTON (Dow Jones)--Any sale of the government's upcoming shareholding in Air New Zealand Ltd. should be via an open, competitive tender, Richard Prebble, leader of the opposition ACT Party said Friday.
"A private sale of shares to Qantas, as rumored, can't be justified," Prebble said in a statement.
"First, the government would have no way of knowing whether another airline or shareholders would bid more for Air New Zealand, and second, any ownership by Qantas raises monopoly concerns," he added.
Qantas Airways Ltd. Chief Executive Geoff Dixon will meet New Zealand's Finance Minister Michael Cullen Wednesday on speculation the government wants Qantas to become a major shareholder in the local carrier.
The government will have an 82% stake in Air New Zealand if shareholders next week approve a proposed multimillion dollar, taxpayer-funded bailout of the loss-making airline.
Cullen has said his coalition government sees itself as a long-term majority shareholder, but he has also said that that doesn't mean it wouldn't be interested at some stage in selling a cornerstone shareholding to another airline.
-By Chris Ritchie, Dow Jones Newswires; 644 4715990; [email protected]
Guest
Posts: n/a
Qantas seems to be doing really well lately compared to most Airlines Worldwide, they are buying new aircraft, starting up Australian Airlines, and starting up again several international routes previously stopped.
NO offence intended, but why on Earth would Qantas even consider buying into Air NZ, an Airline which by its own admission, is now struggling to even survive and a huge drain on the NZ taxpayers.......
NO offence intended, but why on Earth would Qantas even consider buying into Air NZ, an Airline which by its own admission, is now struggling to even survive and a huge drain on the NZ taxpayers.......
Guest
Posts: n/a
I am sorry, I still don't get.... 
Qantas, are doing very nicely, and are a member of One World.
Why would they want to buy into a Star Alliance carrier that is in deep trouble, either Air NZ or any other????
What routes or rights do Air NZ have, that Qantas would want that badly?
Qantas, are doing very nicely, and are a member of One World.
Why would they want to buy into a Star Alliance carrier that is in deep trouble, either Air NZ or any other????
What routes or rights do Air NZ have, that Qantas would want that badly?
Join Date: Jun 2001
Location: New Zealand
Posts: 6
Likes: 0
Received 0 Likes
on
0 Posts
How could the New Zealand Commerce Commission sanction this when it would remove the only significant competition Air New Zealand has in NZ? The only other scenario for competition was if Virgin Blue started a serious operation in NZ, but that seems unlikely in the forseeable future.
Guest
Posts: n/a
Qantas may be eyeing alliance with Air NZ
A tie-up would give Qantas a stake in its rival's profitable domestic routes, say analysts; NZ minister is cool to the idea
AUCKLAND - Qantas Airways would probably like to form an alliance with Air New Zealand (Air NZ), even though the Auckland-based airline's government shareholder will not discuss the carrier's finances in their talks this week.
Qantas chief executive Geoff Dixon is meeting New Zealand Finance Minister Michael Cullen tomorrow at Mr Dixon's request.
He has not disclosed the subject of their meeting, and Mr Cullen vetoed talks on the airline's finances in a letter to Qantas yesterday, but analysts said a link made sense.
'The strategic rationale for a Qantas-Air New Zealand tie-up is very strong and one would have to suggest that over the medium term, it is more likely than not,' said fund manager Troy Angus of Rothschild Asset Management in Sydney. 'It's pretty compelling logic really.'
There has also been media speculation that Qantas was indeed preparing to make a bid for a stake in the beleaguered New Zealand carrier.
For his part, Mr Cullen said he is 'not prepared to discuss matters that relate to the finances of Air New Zealand, or any other matter relating to Air New Zealand, at this meeting'.
Investing in Air NZ would give Qantas a stake in its rival's profitable domestic routes and potential cost- savings on international flights. Some months back Qantas offered to buy 25 per cent of Air NZ as the carrier was struggling because of its ailing Australian unit, Ansett Holdings.
But on Sept 12, Air NZ put Ansett in liquidation to stave off its own collapse and the New Zealand government agreed subsequently to fund a NZ$1.04 billion (S$804 million) rescue package for the airline.
As a result of the package, the New Zealand government will hold an 82 per cent stake in Air NZ, in which it has said it expects to be a majority shareholder for the foreseeable future.
Air NZ shareholders will vote on the government rescue package tomorrow, which will give the government 82 per cent of the business.
A tie-up would give Qantas a stake in its rival's profitable domestic routes, say analysts; NZ minister is cool to the idea
AUCKLAND - Qantas Airways would probably like to form an alliance with Air New Zealand (Air NZ), even though the Auckland-based airline's government shareholder will not discuss the carrier's finances in their talks this week.
Qantas chief executive Geoff Dixon is meeting New Zealand Finance Minister Michael Cullen tomorrow at Mr Dixon's request.
He has not disclosed the subject of their meeting, and Mr Cullen vetoed talks on the airline's finances in a letter to Qantas yesterday, but analysts said a link made sense.
'The strategic rationale for a Qantas-Air New Zealand tie-up is very strong and one would have to suggest that over the medium term, it is more likely than not,' said fund manager Troy Angus of Rothschild Asset Management in Sydney. 'It's pretty compelling logic really.'
There has also been media speculation that Qantas was indeed preparing to make a bid for a stake in the beleaguered New Zealand carrier.
For his part, Mr Cullen said he is 'not prepared to discuss matters that relate to the finances of Air New Zealand, or any other matter relating to Air New Zealand, at this meeting'.
Investing in Air NZ would give Qantas a stake in its rival's profitable domestic routes and potential cost- savings on international flights. Some months back Qantas offered to buy 25 per cent of Air NZ as the carrier was struggling because of its ailing Australian unit, Ansett Holdings.
But on Sept 12, Air NZ put Ansett in liquidation to stave off its own collapse and the New Zealand government agreed subsequently to fund a NZ$1.04 billion (S$804 million) rescue package for the airline.
As a result of the package, the New Zealand government will hold an 82 per cent stake in Air NZ, in which it has said it expects to be a majority shareholder for the foreseeable future.
Air NZ shareholders will vote on the government rescue package tomorrow, which will give the government 82 per cent of the business.
Join Date: Nov 2001
Location: Auztraya
Posts: 121
Likes: 0
Received 0 Likes
on
0 Posts
HEY MAX RATE
Clever people ,you (Air)New Zealanders.First you destroy a fantastic Aussie Company like Ansett and then you carn't help yourself with a final comment like that.
Take another look at yourself you are a DISGRACE!!!!.
You guys don't get it do you?
The best thing to come out of the Ansett collapse is that we have you bunch of no hopers off our backs.
GOOD RIDENCE
Clever people ,you (Air)New Zealanders.First you destroy a fantastic Aussie Company like Ansett and then you carn't help yourself with a final comment like that.
Take another look at yourself you are a DISGRACE!!!!.
You guys don't get it do you?
The best thing to come out of the Ansett collapse is that we have you bunch of no hopers off our backs.
GOOD RIDENCE
Join Date: Jun 2001
Location: home with mum and the kids
Posts: 176
Likes: 0
Received 0 Likes
on
0 Posts
If I were a Kiwi, I'd pull my head in.
Then again, thank christ I'm not.
Is it strange irony that it was not an Aussie company, but a New Zealand one which put me on the dole queue.
Then again, thank christ I'm not.
Is it strange irony that it was not an Aussie company, but a New Zealand one which put me on the dole queue.
Join Date: Sep 2001
Location: NSW Australia
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
Hey MAX RATE I would keep pretty low if I were you. You lot over the pond are not loved over here in the Aviation industry. Air NZ came over here with all these promices and made a dogs breakfast of it all.
Nothing personal but expect more of what you are getting.
Nothing personal but expect more of what you are getting.
Join Date: Jun 2001
Location: New Zealand
Posts: 6
Likes: 0
Received 0 Likes
on
0 Posts
The collapse of Ansett Australia had nothing to do with the fact that Air New Zealand owned it. It was a very, very sick puppy when Air New Zealand bought it. Agreed, the Air New Zealand board made a huge hash of it, but they were sold a lemon to start with!
I feel extremely sorry for everybody who lost their jobs with Ansett, having been through the same thing with Qantas NZ, however blaming New Zealanders in general is a load of w**k. If you want to blame somebody, then stick to the people responsible, ie. the Air New Zealand board, Murdoch and Abeles who started the rot.
I feel extremely sorry for everybody who lost their jobs with Ansett, having been through the same thing with Qantas NZ, however blaming New Zealanders in general is a load of w**k. If you want to blame somebody, then stick to the people responsible, ie. the Air New Zealand board, Murdoch and Abeles who started the rot.
Join Date: Mar 1999
Location: Australia
Posts: 228
Likes: 0
Received 0 Likes
on
0 Posts
Well, from recent developments it is obvious that Air NZ was an even bigger basket case than Ansett, and that was obvious before they chose to buy Ansett. They had hoped to ride on Ansett backed by SQ. But they made a serious error by crossing SQ when they preempted Sq's bid for AN.
Now they are back where they deserve to be. Let's see how they get on now or will QF help to prop them up? After all they did QF a great favour by destroying AN.
Now they are back where they deserve to be. Let's see how they get on now or will QF help to prop them up? After all they did QF a great favour by destroying AN.
Join Date: Dec 2000
Location: Syd
Posts: 256
Likes: 0
Received 0 Likes
on
0 Posts
Personally I can't wait for AirNZ to go under. I don't care what all the do-gooders think. AirNZ don't deserve to exist. They abrogated on their corporate responsibilty, they are un-trustworthy and the aviation world would be better off without them!
[ 19 December 2001: Message edited by: Boeing Belly ]
[ 19 December 2001: Message edited by: Boeing Belly ]
Actually the biggest basket case during this affair has been Brierly Investments. Since Ron Brierly sold up several years ago the company has been steadily going downhill with every company that it touches turning to crap.
Need I remind everyone that Air New Zealand's Chairman during all this, Selwyn Cushing, was also chairman of it's biggest shareholder.
Further to this - the decision to aquire Ansett was made by Air New Zealand's Board acting for their shareholders, Singapore Airlines and Brierly investments.
Now once again - none of these decisions were taken by average New Zealanders, indeed any employees below senior Executive/Board level. Indeed most of the decisions were made by Directors on behalf of two Singapore controlled companies - Singapore Airlines amd Brierly Investments.
So in fact instead of directing your vitriol at New Zealanders maybe you should have a go at Singaporeans, because it was their companies that pulled the strings.
Need I remind everyone that Air New Zealand's Chairman during all this, Selwyn Cushing, was also chairman of it's biggest shareholder.
Further to this - the decision to aquire Ansett was made by Air New Zealand's Board acting for their shareholders, Singapore Airlines and Brierly investments.
Now once again - none of these decisions were taken by average New Zealanders, indeed any employees below senior Executive/Board level. Indeed most of the decisions were made by Directors on behalf of two Singapore controlled companies - Singapore Airlines amd Brierly Investments.
So in fact instead of directing your vitriol at New Zealanders maybe you should have a go at Singaporeans, because it was their companies that pulled the strings.
Join Date: Nov 2001
Location: Auztraya
Posts: 121
Likes: 0
Received 0 Likes
on
0 Posts
[b]KIWICONEHEAD[/B
"Further to this-the decision to aquire Ansett was made by Air New Zealand's board acting for their shareholders,Singapore Airlines and Brierly investments"
DOH!!!,Me thinks you just failed recent history.
Singapore Airlines had no Shareholder involvement in Air New Zealand till after the 100% acquisition.
"Further to this-the decision to aquire Ansett was made by Air New Zealand's board acting for their shareholders,Singapore Airlines and Brierly investments"
DOH!!!,Me thinks you just failed recent history.
Singapore Airlines had no Shareholder involvement in Air New Zealand till after the 100% acquisition.