The airline's response to Helen's gratuitous advice was to ask the New Zealand Stock Exchange to continue the halt. It didn't, which was unfortunateJRIf you want to find out why Air NZ got itself into the mess it's in you have to go back to when Keating reneged on the deal to allow Air NZ full access rights to the Australian market (as Qantas had to the NZ market). As a result of last minute lobbying by Qantas the equal rights deal agreed to was cancelled and the rug was pulled from under Air NZ at the very last moment - speakly candidly it was another example (to the Kiwis) of under-arm bowling. After all - all Air NZ wanted in Australia was the same landing rights that Qantas enjoyed in NZ.Keating and successive Australian governments then told Air NZ that the only way they could enter the Australian market was to buy Ansett.Having done so they then discovered a number of unpleasant facts about Ansett including its elderly aircraft and a a backlog of maintenance that cost Air NZ millions. It was the final straw and the fiasco which followed was unfairly placed on the Air NZ Board.Qantas was the real culprit in this and I see that just the other day Qantas are now over here in NZ trying to buy a slice of Air NZ. They are either good business people or just dirty players - I don't know but it's left a nasty taste both sides of the Tasman.RegardsHarmy
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra