Here is A report on the issue from http://www.news.com.au/common/printpage/0,6093,2052237,00.html
Will have to wait until more detailed info is known before making comments or passing judgement
Airlines view shake-up
QANTAS has been approached to take a significant stake in Air New Zealand in a deal which would also see Ansett sold.
The proposal would involve Air New Zealand selling Ansett and Ansett International to Singapore Airlines, Qantas said today.
The airline has had preliminary discussions with Air New Zealand's major shareholders, Singapore Airlines and Brierley Investments Ltd.
It has also held talks with Air New Zealand chairman Sir Selwyn Cushing.
A Qantas statement said chief executive officer Geoff Dixon would await further advice or contact from the board of Air New Zealand and the two major shareholders before deciding whether it will take the matter further.
Earlier Air NZ said Qantas had approached its board, which was considering a proposal.
"Air New Zealand ... has been approached by Qantas for the development of a transaction which would involve the acquisition by Qantas of a significant shareholding in Air New Zealand from the two major shareholders, namely Brierley Investments Ltd and Singapore Airlines Ltd," the company said.
"The proposal is conceptual and no valuations have been incorporated in the proposal at this stage."
The Air NZ board said it was too early to form a view on the proposed acquisition.
However, it said it would consider the proposal "in the interests of all shareholders", and had established an independent committee of directors to consider it and other options.
Expert advice is also being sought by the committee.
This report appears on news.com.au.