Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


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sought payment from Qantas NZ of amounts outstanding for settlement to occur by 4.00pm 20 April or services would be withdrawn at that time.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 WIAL understands other creditors had already withdrawn services from approximately 10.00am Friday 20 April.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news