Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Air New Zealand Bail Out Proposal A Con

Friday 15th Jun 2001 Stephen Franks Media Release -- Governance & Constitution

Any New Zealand Government money given to Air New Zealand would bail out the shareholders and not be a rescue for the company, says ACT’s commerce spokesman Stephen Franks.

“The payoff goes to the Asian controllers of Brierley Investments (BIL) and Singapore Airlines not New Zealanders generally.

“It is unbelievable that the Minister did not show them the door weeks ago. Despite the Cabinet’s lack of business experience their normal prejudice against multi-nationals should have led them to smell a rat. But if press reports are correct, flattery and lack of nous seems to be sucking New Zealand into a scheme to rescue Air New Zealand’s foreign owners. I am familiar with the relevant law, the issues are not complex and Air New Zealand’s problem is not with the law. Our law is part of a pattern known by every international airline around the world. It has not changed.

“BIL got Air New Zealand to pay too much for Ansett Australia. The consequence is Air New Zealand has a large loss and may have to sell Ansett at a discount. That is sad for Air New Zealand shareholders.

“But the solution does not need Government involvement it just needs acceptance that the shares are worth much less now if new capital is needed.

It seems protracted negotiations could even led ministers to agree to the equivalent of injecting a wasting virus into Air New Zealand.

“Representation of Qantas and Singapore Airlines on its board would mean the two competitors with most to gain from watching Air New Zealand shrivel could know all its strategies in advance and direct them. Air New Zealand under Qantas and Singapore Airlines influence would suffer a long painful decline, its immunities destroyed by Government blessed viruses on the board.

“The Government must come clean. Is it negotiating behind Mr Toomey’s back in terms that would make his nightly TV assurances to New Zealanders meaningless?” Stephen Franks concluded.


For more information visit ACT online at or contact the ACT Parliamentary Office at

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Peters/Ardern Triumph

There are a lot of good reasons to feel joyful about this outcome. It is what so many young voters – the best hope for the country’s future – wanted.

Far more important than the implications for the Economy Gods ( is the dollar up or down? ) last night’s outcome will also mean many, many vulnerable New Zealanders will have a better life over the next three years at least.

Yet the desire for change was in the majority, across the country..>>>More


Labour on its agreement |Peters: Post-Election Announcement Speech | Greenpeace “cautiously hopeful” about new Government | ACT - Madman on the loose | E tū ecstatic | Chamber welcomes the outcome | Greens on their joining Govt | EDS welcomes new govt | Immigrant groups worry | Feds ready to engage new coalition government | Labour Ministers of the Crown announced


Climate: Increasing Greenhouse Emissions Hit NZ

New Zealand is seeing impacts of excess greenhouse gas emissions in our climate and oceans, according to the latest national report from the Ministry for the Environment and Stats NZ about the state of the atmosphere and climate…More>>


Wellington.Scoop: Arrests At Blockade Of "Weapons Expo"

“We encourage people in Wellington to get down to the Westpac Stadium now for a day of awesome peace action. There will be plenty of food, music and activities to keep us sustained through the day.” More>>


Rorschach Restructuring: PSA Taking Inland Revenue To Court Over Psychometrics

The Public Service Association will be seeing Inland Revenue in Employment Court over its intention to psychometrically test employees reapplying for their roles at the department as part of its controversial Business Transformation restructuring plan. More>>


Nuclear Disarmament: Nobel Peace Prize 2017 Awarded To ICAN

Congratulations from iCAN Aotearoa New Zealand to international iCAN, the other iCAN national campaigns and partner organisations, and the countless organisations and individuals who have worked so hard for a nuclear weapons-free world since 1945. More>>


Expenses: Waikato DHB CEO Resigns

An independent inquiry has identified that Dr Murray had spent more than the agreed $25K allocated for relocation costs, and other unauthorized expenses involving potential financial breaches of the chief executive’s obligations. More>>


Wellington.Scoop: Sad About The Trolley Buses?

The Regional Council’s MetLink is today spending money to tell us that it really loves Wellington’s trolley buses, even though they’re all being taken off our roads by the end of this month. More>>


Post-Election: Preliminary Coalition Talks Begin

New Zealand First will hold post-election preliminary discussions in Wellington with the National Party tomorrow morning and the Labour Party tomorrow afternoon. More>>




Featured InfoPages

Opening the Election