One News tonight reported Qantas plans to buy 25% of Air New Zealand, leaving the New Zealand government with a 65% shareholding. One News indicated that the two airlines would hold a joint media conference on Monday.
The report suggested Qantas may have to commit to a "National Interest" package as a result of its investment in Air New Zealand. According to One News, this may be in the form of some Qantas maintenance shifting to New Zealand, creating local employment. Also suggested was that as a result, Air New Zealand may leave the Star Alliance and join oneworld.
Critics say that this will result in higher airfares, particularly domestically where Qantas and Air New Zealand are the only major operators, and across the Tasman. However, the same critics say that this tie-up may expedite clearance for Virgin Blue to begin operations.
So if One News is correct, expect official confirmation Monday! If they're wrong... well, they're going to be in a spot-o-bother!
Moderators: jsumali2, richierich, ua900, PanAm_DC10, hOMSaR
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RE: Qantas To Buy 25% Of Air NZ
Does Qantas has the money to pay the penalty fee for Air New Zealand?
RE: Qantas To Buy 25% Of Air NZ
Speculation about a possible Qantas deal
Tonight on TV news there has been speculation about a possible deal between Air New Zealand and Qantas.
Our response to that speculation is that discussions between Air New Zealand and Qantas are continuing. No agreement has been reached. When we have anything to report, we will.
source: air nz press release, 22 november 2002, 1920h
Tonight on TV news there has been speculation about a possible deal between Air New Zealand and Qantas.
Our response to that speculation is that discussions between Air New Zealand and Qantas are continuing. No agreement has been reached. When we have anything to report, we will.
source: air nz press release, 22 november 2002, 1920h
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RE: Qantas To Buy 25% Of Air NZ
The fee that Qantas would allegedly have to pay for ANZ's departure from Star, is around $32million (i cant remember if thats NZdollars or US or Aussie)
And im pretty sure Qantas has that kind of money right now, afterall, even BA which was making losses for months has a cash pile of well in excess of 2billion Aussie dollars.
we shall find out more Monday i guess.
A^A MD-11
And im pretty sure Qantas has that kind of money right now, afterall, even BA which was making losses for months has a cash pile of well in excess of 2billion Aussie dollars.
we shall find out more Monday i guess.
A^A MD-11
RE: Qantas To Buy 25% Of Air NZ
I'd love them to join Oneworld. Seat-pitch-wise, the NZ 747 I was on was a closer match to AA's MRTC (around 34"), while Qantas is a closer match to United (both 31" I believe?).
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RE: Qantas To Buy 25% Of Air NZ
Aamd11 - i think that must be US$. The figure I heard quted on the news a lot last year was NZ$60 million
V/F
V/F
It is not for him to pride himself who loveth his own country, but rather for him who loveth the whole world. The earth is but one country, and mankind its citizens. —Bahá'u'lláh
RE: Qantas To Buy 25% Of Air NZ
An extract from the NZ Herald on the sale of 25% of AirNZ to QF,
Former Air New Zealand director Sir Selwyn Cushing is horrified.
"It just defies any sense of business common sense," he said.
It would be as stupid as having Wallabies captain George Gregan sitting in with the All Blacks and helping with tactics about the next test match.
"The Aussies will make sure it's nice and sweet and and sugary for the short term, but the long term will be disaster.
"Anyone with half a brain in the airline industry will understand that."
It's a pity this goose didn't heed his own advice in 1998. A good percentage of 16,000 people might have still been employed today.
Rmm
Former Air New Zealand director Sir Selwyn Cushing is horrified.
"It just defies any sense of business common sense," he said.
It would be as stupid as having Wallabies captain George Gregan sitting in with the All Blacks and helping with tactics about the next test match.
"The Aussies will make sure it's nice and sweet and and sugary for the short term, but the long term will be disaster.
"Anyone with half a brain in the airline industry will understand that."
It's a pity this goose didn't heed his own advice in 1998. A good percentage of 16,000 people might have still been employed today.
Rmm
RE: Qantas To Buy 25% Of Air NZ
In the interest of being fair, I also have to point out that the extract provided by Rmm from Sir Selwyn Cushing concluded with a comment about how this would all be unnecessary if SIA had been allowed to buy into Air NZ, but the "dithering of [Finance Minister] Michael Cullen has cost New Zealand plenty".
RE: Qantas To Buy 25% Of Air NZ
B-HXB
I didn't mean to deliberately leave that last paragraph out. (The bit about Cullen) My comments relate more to 98 than 2001. Cushing was the one who enacted the pre-emptive rights.
Rmm
I didn't mean to deliberately leave that last paragraph out. (The bit about Cullen) My comments relate more to 98 than 2001. Cushing was the one who enacted the pre-emptive rights.
Rmm
RE: Qantas To Buy 25% Of Air NZ
Air NZ Request Suspension
24/11/2002 06:54 PM
IRN
Air New Zealand has asked the Stock Exchange to suspend trading in its shares tomorrow morning.
It's the clearest sign yet that the company is ready to announce a deal's been done with Qantas.
The Stock Exchange says Air New Zealand expects the suspension of trade to last until about midday.
While the shares aren't trading, Air New Zealand will be meeting union leaders at an Auckland hotel, where a video link-up has been arranged with Australia.
Our newsroom understands that Qantas will take between 19.5 and 25 percent of Air New Zealand.
Any deal will have to go to Cabinet to be signed off, and will need the approval of Finance Minister Michael Cullen and the Overseas investment Commission.
The Commerce Commission says it understands an application relating to Air New Zealand is imminent.
24/11/2002 06:54 PM
IRN
Air New Zealand has asked the Stock Exchange to suspend trading in its shares tomorrow morning.
It's the clearest sign yet that the company is ready to announce a deal's been done with Qantas.
The Stock Exchange says Air New Zealand expects the suspension of trade to last until about midday.
While the shares aren't trading, Air New Zealand will be meeting union leaders at an Auckland hotel, where a video link-up has been arranged with Australia.
Our newsroom understands that Qantas will take between 19.5 and 25 percent of Air New Zealand.
Any deal will have to go to Cabinet to be signed off, and will need the approval of Finance Minister Michael Cullen and the Overseas investment Commission.
The Commerce Commission says it understands an application relating to Air New Zealand is imminent.
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RE: Qantas To Buy 25% Of Air NZ
Any chance that Air New Zealand will stay with Star?
RE: Qantas To Buy 25% Of Air NZ
An AOL/AP report said oneworld wont be taking members anytime soon
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- Guest
RE: Qantas To Buy 25% Of Air NZ
25% is still considered a minority stake. ANZ is unlikely to leave Star at this moment.
RE: Qantas To Buy 25% Of Air NZ
ANZ might not leave Star, but as the other running thread on this topic mentions, Star seems to be trying to lure Qantas in.
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