Just weeks after Qantas Airways Limited entered discussions with Tasman Pacific to effectively buy back its own franchise, Tasman Pacific has gone into receivership leaving the airline's fleet on the ground and passengers stranded.
The 5 April press release read as follows:
NEW ZEALAND SERVICES CONTINUE TO OPERATE AS USUAL, Sydney, 5
April 2001 -
As a result of media speculation in New Zealand, Qantas Airways Limited today confirmed it was holding discussions with Tasman Pacific Airlines, which owns the franchise to operate Qantas New Zealand. The discussions relate to the potential purchase of the Qantas New Zealand franchise by Qantas Airways Limited. All Qantas New Zealand services will continue to operate as usual and Qantas Airways Limited will honour all Qantas New Zealand tickets.