Air NZ extends Hazelton offer

By Phil Boeyen, ShareChat Business News Editor

Monday 19th February 2001

Air New Zealand's (NZSE: AIRVA) Australian subsidiary, Ansett, has extended its offer for Hazelton Airlines for another month.

Ansett is back running a one-horse race for the regional airline after rival, Qantas, pulled out of the bidding last month.

Australia's competition watchdog has previously turned down both Qantas and Ansett's request to take over the New South Wales carrier, but Ansett has continued to buy shares in the hope of working out a deal that would satisfy any regulatory concerns.

"Ansett is continuing to work with the Australian Consumer and Competition Commission with a view to satisfying any of the Commission's outstanding concerns relating to the bid. Ansett remains committed to the integrity of Hazelton Airlines and the important regional air services it provides," the company says in a statement.

Ansett now has a relevant interest in 78.53% of the ordinary shares in Hazelton. Its $1.60 per share offer has the backing of Hazelton's board.

The offer has been extended until the 27th of March.

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