Air Transport World

Singapore Airlines.(Asia/Pacific report)(Brief Article)

Singapore Airlines sold its remaining 6.3% stake in Air New Zealand last month to a spread of financial institutions for NZ$61.7 million ($41.6 million). The sale of the SIA parcel has left the New Zealand government as the only substantial shareholder in ANZ with 72%. Brierley Investments, which held 7.8%, exited earlier this year. SIA said in a statement that the sale will not impact various areas of cooperation between the airlines, which will continue.

SIA originally acquired a 25% share of ANZ for NZ$585 million in 2000 as part of a three-way Australasian tie-up with ANZ's Australian arm Ansett. It was pushing to increase its stake to 44% when Ansett collapsed in 2001, leading to the near-collapse of ANZ. …

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