Forum Archive Index - June 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

> 
> You could make things more interesting by producing plan B, as
> outlined before: A smaller cash issue!
>
>
No need for me to produce plan B when Singapore Airlines have done it 
for me.  A straight cash injection followed by a rights issue.  Yes, 
that might do it!   A cash issue only would have to be too 
heavily discounted to raise the $2 billion needed, so was always a 
doubtful goer..

Looks like bad news for Brierley investments.  There is no easy out 
for their 30% share now.  And Greg Terry has said he won't be putting 
any more money into Air NZ, without a clear indication of a profit 
for them at the end of it.

So who will be stumping up for the rights issue, on behalf of 
Brierley's shares?   Maybe my prediction of the government 
underwriting that is looking more likely?

Then there is the issue of the A and B shares.   If Singapore 
Airlines are issued more B shares, then some other based in New 
Zealand kiwi organization will have to be issued with more A 
shares.  Otherwise it is theoretically possible for Air NZ to fall 
under foreign control- and that means bye bye landing rights.  Anyone 
care to speculate how AIR will get out of this one?  SNOOPY

(disclosure hold AIRVB)

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