By: greekdude1 - 12th May 2003 at 01:33
Garry, Air New Zealand is actually one of my favourite airlines, so don’t think I’m just bashing them. The Australian Gov’t may be at fault, but so is NZ. Why didn’t they allow SIA to increase their stake in them from 25% to I believe 35-40%? That would have been, at the time, much needed cashflow. Why wouldn’t you want to sell an additional stake in a valuable alliance partner? So they could instead, buy back virtually every share SIA had, and sell of almost 90% to the New Zealand gov’t? And now, better yet, they want to sell a similar stake they had with Singapore, to their rival carrier. That makes no sense whatsoever. I guess it’s better for QANTAS to own a 35-40% share, than it was for SIA. I hope for everybody’s sake involved, that QF is not allowed to take a stake in NZ.
By: Arabella-Cox - 11th May 2003 at 07:54
“For the record, I’m still peeved that they went under. Damn Air New Zealand!”
Sorry? Damn Air New Zealand for what?
If anyone should be blamed it should be the Australian government. They demanded Air New Zealand buy it to allow entry into the Aussie market… then they let Virgin Blue in without any such constraints. When they got Ansett it had been screwed to the eyebrows anyway and was in aweful shape… Air New Zealand would not have any problems now if it hadn’t been burdened with over payed under worked Ansett personel.
…instead of cutting Ansett payrates, they increased Air New Zealand pay rates… not the best idea considering the market situation at the time or since.
By: KabirT - 11th May 2003 at 05:29
Its returns were very very high, they owed many people lots of money. Ansett owed ANZ more than $80 million under funding arrangements. The Qantas monopoly in Aus skies hurted the more. Ansett did not take the seriousness of there loss making company as signs of trouble were blinking since 1998.
By: mongu - 10th May 2003 at 23:19
Okay, I never understood the background to this.
Would anyone be able to explain how and why Ansett went under?
By: greekdude1 - 10th May 2003 at 22:50
For the record, I’m still peeved that they went under. Damn Air New Zealand!
By: A330Crazy - 10th May 2003 at 10:50
Cheers for the link steve, shall have a closer look later, looks interesting. 🙂
Cheers
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May 10, 2003 at 5:01 am