Not yet it's not. QF
indeed used to own around 20% of NZ
, tied in with JAL and AA
and Brierly Investments, but eventually Brierlys became the primary shareholder with the rest floated on the sharemarket. Though I believe QF
did maintain a holding until the late 1990s.
has been and remains a competitor, so it was convenient for NZ
to link with the major opposing force, Star-carriers, in the mid 1990s. Also it was envisaged that originally there would be a large opposing block of NZ
and Ansett as the opposition in New Zealand and Australia against Qantas.
Added to that is that Star was the first of the alliances and remains the largest of the three, with better coverage across Asia, North America and continental Europe.