Forum Archive Index - May 2001

["james chamley" <james.chamley@xtra.co.nz>]

I for one would be horrified if the New Zealand Government in its present state attempted to retake control of Air NZ.  I cannot think of a group of individuals with less skill or experience in running a business.  An run it they would certainly try to do (could any of them be described as "hands off"?).  Testament to this is the way that they have approached the remaining SOE's - NZ Post and TVNZ.

 

I have no problem with a small stake (10%?) going back to the taxtakers but any more and I think that the impact would be detrimental to the company.

 

Air NZ seems as though it actually has a vibrant and dynamic CEO in Mr Toomey (who apparently was loading bags at Auckland the other day as they were short of loaders - shirt sleeves rolled up - what does that do to your company morale?).  Let him get on with it after the company has spent so many years being in a holding pattern - with descending altitude.

 

Having a successful flag carrier (regardless of ownership) is critical to New Zealand's tourism business.  Why; because only an airline domiciled in NZ has a vested interest in maximising loads in and out of NZ in preference to other routes - not to mention the rights that are negotiated at a governmental level.  In the greater scheme of things $500m is not a lot of money if it is made on commercial terms.  This government has chucked away far greater sums with no hope of return!  There may only be one survivor in the looming battle between AIR and QAN.

 

Disclosure - don't hold AIR (or work for them)

----- Original Message -----

From: G Stolwyk

To: sharechat.co.nz

Sent: Sunday, May 13, 2001 11:02 AM

Subject: Re: [sharechat] Air New Zealand as a taxpayer owned company?

 

 

I thought that it could be up to $ 700 mill.?

 

If it ever comes to that then the Government should ask for an interest rate commensurate with the risk, say 25% and appoint 2 proven directors from the commercial world on the Board.

 

Obviously, the Government should be first in line for repayment, should something go wrong!

 

But, has it got the money to spare? I read that Singapore wants the chair once the present chairman goes.

 

What a chess game!

 

Gerry