Bonanza
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Posts: 19
Joined: Thu Oct 04, 2001 6:34 pm

Bail Out Of Air New Zealand

Fri Oct 05, 2001 11:27 am

Yesterday Air New Zealand announced there rescue package for the airline. The New Zealand government will pump in nearly 900 million (New Zealand currency) about 360 million American into the airline. The airline will cut some flights but that is unknown at this stage. It is said that nearly 10% of employees will lose there jobs. What does this mean for the New Zealand travelling public? It is good news alround for the country that relies heavily on it's tourism market. The government will take a 83% share in the company.

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