Air Transport World

Air New Zealand. (News Briefs: Asia/Pacific Report).(provides Qantas Airways Ltd. with more ownership in company)(Brief Article)

Air New Zealand took a major step in its planned transtasman affiance on Dec. 31 by providing Qantas with an initial equity foothold equating to 4.99% ownership in the carrier for NZ$98.4 million ($51.4 million). ANZ moved ahead with the issue following a decision by its 82% shareholder, the NZ government, to provide in-principle clearance to the partnership deal. Qantas eventually will assume up to 22.5% of ANZ under the terms of their conditional agreement, which faces dose scrutiny from the NZ Commerce Commission and the Australian Competition and Consumer Commission over the next six months. …

Log in to your account to read this article – and millions more.