Forum Archive Index - July 2001

[not important <cullen150@yahoo.com>]

Hi,
 Well from what i gather in here and from the papers
Cullen probably wont allow increase in foreign
ownership. AIR NZ is against suggestions of Qantas
merger, will probably have to sell Ansett as not
enough support for rights issue. 
 Really not sure what that will do to shareprice.
 But if they go back to old AIR NZ without Ansett and
with not much of a way to expand anymore and with
increasing competition in NZ from Qantas and Ex Air NZ
run (i think?) Origin Pacific then things cant be too
cherry long term. maybe.
  My thoughts - cullen150 
disc) No AIR A or B. Name not anything to do with
minister cullen!!!


--- Greg <g&jelliott@xtra.co.nz> wrote:
> A simple Q for the airline whips.
> 
> Who owns Air NZ? Now the company site declares the
> major shareholders as BIL
> (30%) and SIA (25%). There is no mention of the NZ
> Govt. Perhaps they own
> some of the remaining 156.5m A shares?
> 
> Today's NBR report was interesting in showing that
> 42% of Kiwis polled would
> prefer the Govt to bailout Air NZ, rather than allow
> increased foreign
> ownership.  Another Q cites 63% opposed to a 49%
> stake by SIA or Qantas. I
> don't know if those Kiwis who polled were also
> shareholders - NBR doesn't
> say.
> 
> By party, NBR gives the proportion opposed to an
> increase in SIA's ownership
> as:
> 92% of Alliance
> 66% of Labour
> 59% of National 
> 
> So the electorate seems broadly disposed against
> Singapore Inc, despite the
> Air NZ Board's preference toward them.  Where do the
> shareholders come into
> this? After all, the electorate doesn't own Air
> NZ...or do they? Obviously,
> Govt approval is required to change the cap on
> foreign ownership. And that's
> a political decision which must take account of
> electoral sentiment. But how
> do you run a business in that sort of climate? I
> mean, Air NZ are really
> constrained in their options here. Can't increase
> Qantas ownership, can't
> increase SIA ownership. Could make a rights issue,
> but I don't see a queue
> of willing Kiwi investors. And they don't really
> want to have to sell Ansett
> if they can avoid it. It would probably go for a
> bunch less than they paid
> for it ($A475m for 50% in 96, $A680 for remainder in
> 00). I don't know what
> affect that would have on the share price - any
> takers? What are the options
> now?
> 
> Greg E. (disc hold Air NZ) 
> 
> 
>
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