Sharechat Logo

Dr Cheong in 11th-hour lobby

Friday 27th July 2001

Text too small?
By Graeme Kennedy

Singapore Airlines chief executive Dr Cheong Choong Kong flies home today after an 11th-hour meeting with government ministers and officials in Wellington over the future of Air New Zealand.

Both carriers want the government to raise the 25% foreign ownership cap already held by SIA in Air New Zealand to allow the Singapore airline to increase its stake to as much as 49% - but Finance Minister Michael Cullen has said he was unconvinced of the necessity to take such action. The cabinet is understood to have the issue on its agenda for Monday.

An SIA contingent has visited Wellington to outline the company's case for increased shareholding - which Air New Zealand needs to fund fleet expansion for troubled subsidiary Ansett Australia - and left an open invitation for Dr Cheong to make a personal follow-up visit to further explain Singapore's aspirations.

He is understood to have reassured officials that even with a 49% stake SIA would maintain Air New Zealand's independence.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating
Contact Energy FY25 Financial Results Presentation
NZX Chief Executive Mark Peterson to depart in April 2026
BRW - Expansion of Napier Production in Post-Cyclone Rebuild
July 24th Morning Report
Air New Zealand 2025 Annual Results Webcast Details
FPH provides Investor Event presentation
Tower to discontinue multi-policy discounts