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WIAL and Qantas Liquidation Fact Sheet

FACT SHEET

1. Tasman Pacific/Qantas New Zealand (Qantas NZ) have a large number of creditors which we understand run to many millions of dollars.

2. Wellington International Airport Limited (WIAL) is a creditor and is owed $750,000. Amounts have been overdue since 20 March and WIAL has been taking action since that time to gain recovery without receiving any constructive response from Qantas NZ.

3. Once WIAL was notified that Qantas Airways was in discussions to buy Qantas NZ WIAL agreed to wait on developments.

4. On 19 April WIAL was notified that Qantas Airways was no longer in negotiations to buy Qantas NZ. WIAL therefore sought payment from Qantas NZ of amounts outstanding for settlement to occur by 4.00pm 20 April or services would be withdrawn at that time.

5. Qantas NZ’s response were telephone calls from the Chairman of Qantas NZ and Financial Administrator who suggested payment would be made in June 2002, with nothing to support how this debt would be dealt with. There was no suggestion that the shareholders of Qantas NZ would inject further funds.

6. At 3.00pm on Friday 20 April WIAL notified Qantas NZ (as per attachment) that it would delay withdrawing services and would make a press release at 9.00am on Tuesday 24 April announcing the withdrawal of operational systems, such as aerobridges, baggage systems etc. from 9.00am Monday 30 April. The purpose of this advance warning was to minimise inconvenience to the travelling public.

7. WIAL notified CIAL and AIAL of its decision and copied them the intended press release.

8. WIAL did not, and cannot, refuse landing by Qantas NZ aircraft or any other aircraft.

9. WIAL understands other creditors had already withdrawn services from approximately 10.00am Friday 20 April.




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