Posts: 138
Joined: Fri Apr 21, 2000 10:42 pm

Air NZ Sale

Wed Dec 25, 2002 6:58 pm

This may open a can of worms, but here we go:
With the New Zealand government having virtually handed the airline over to Qantas on a platter recently, without too much debate, it its glaring to note that the same government dithered for such a long time last year on whether SQ could have a larger share of the airline, whilst Ansett was on the verge of collapse. It really seems that it is more palatable for the NZ government to have their national airline in the control of Australians (with perhaps the same cultural background) rather than to have it controlled by an Asian airline, even though the former's intentions for Air NZ in the future are highly suspicious.
Posts: 1706
Joined: Thu May 24, 2001 8:20 pm

RE: Air NZ Sale

Wed Dec 25, 2002 7:32 pm

The NZ govt did SQ a favour actually. SQ did not do due dilligence on Ansett and Clark knew that if Cheong actually saw Ansett's books he would have walked off since they were bleeding SO badly. She actually did Cheong a big favour.

I don't think xenophobia played a part here. After all Singaporean companies have bought stakes in major australian companies. $ talks you know.

It's a good think the NZ govt bailed them out since SQ buying ANZ/AN would have resulted in SQ bleeding itself further.

Also QF was smart in launching that rubbish bid for Air NZ last year. Just a year ago SQ's position in Australiasia looked unstoppable.

Anyway SQ will not do anything down under, I think, until CHeong leaves in, hey, TWO months!