Market mauls Air NZ

Friday 7th September 2001

Air New Zealand's share price yesterday plumbed new depths as uncertainty about ownership and funding issues deepened.

At mid-afternoon the "A" shares were trading at 79c, their all-time lowest level, after the government on Wednesday deferred yet again a decision on what measures it would take to help shore up the airline's sinking profitability.

The government's silence on the reason for its delay sparked rumours major investor Singapore Airlines was re-visiting its position on pumping more money into the national flag carrier.

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