Parliament

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

 

Where's The Hope For New Zealand?

ACT Commerce Spokesman Stephen Franks says it's deplorable New Zealanders are being led to believe there are only three choices for "bailing out" Air New Zealand - yet the most simple and obvious option, involving this country standing up for itself, is not included.

"It appears that the public as well as the Government are buying the lines being fed by foreign airline spin merchants and Brierley Investments (BIL) ' currently Air NZ's largest shareholder. I saw a newspaper poll this morning [The Dominion] in which readers were offered choices of the airline being bailed out by a) Qantas, b) Singapore Airlines, and c) the taxpayer.

"Yet there is no mention of the first and most simple and obvious choice - existing Air New Zealand shareholders. There is no reason why a deeply discounted renounceable rights issue to existing shareholders would not raise the necessary capital. That is the first option of one of Air New Zealand's most successful former chief executives.

"It is also the view of senior brokers to whom I have spoken, but who won't speak out because they would be in the running to work with a Singapore-controlled Air New Zealand in the future

"The financial establishment sits watching as an inexperienced government is suckered by foreign airline spin merchants, but most of all Asian-controlled BIL, into "rescuing" not Air New Zealand, but BIL.

"An Air NZ board that presided over one of the most catastrophic foreign excursions of recent years has diverted attention away from its responsibility for the Ansett purchase by now saying there is (and it seems was) no alternative to ultimately giving Singapore Airlines control.



"No independent commentator appears willing to risk challenging the new orthodox view that says it is better to sell control of Air NZ to Singapore Airlines, and have key resources moved off shore - than to force the board to sell all or part of Ansett and retain at least the prospect of Air NZ being more than just a regional feeder airline. Singapore capital will eventually shut Air NZ out of routes any new "partner" wanted to keep to itself.

"It's time the Government told BIL they've done enough damage, stopped turning a blind eye to BIL's foreign control, and used the powers New Zealander's thought they had given with the Kiwi Share. It's time Air NZ staff, and New Zealanders were told there is no benign foreign Father Christmas. The solution lies within. The Government should say it will not bail out BIL. The company can and should live within the rules the shareholders all bought in under," Stephen Franks.

Ends


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Anti-Corbyn Split In British Labour

The resignation of seven UK Labour MPs in protest against the leadership of Jeremy Corbyn is another example of the centre-left’s readiness to sabotage its own cause – such things are always allegedly done on principle – even if the outcome hands the country over to Conservative rule for five more years.

Certainly, a technician hot-miked at the splitters’ press conference was pretty sure this would now be the outcome, and he accidentally informed the nation to that effect. More>>

 
 

Auckland Action Against Poverty: Motels Profit From Housing Crisis

A single motel which charges up to $1,500 per week per room has received over $3 million worth of Government funds to provide emergency assistance, despite never having a Code Compliance Certificate – an offence under the Building Act – and receiving a series of longstanding complaints from occupants... More>>

ALSO:

Gordon Campbell: On The Alleged China Relations Crisis

If New Zealand’s relations with China are ‘deteriorating’ then you still need a microscope to detect the signs... More>>

ALSO:

Environment: Government To End Tenure Review

“Tenure review has resulted in parcels of land being added to the conservation estate, but it has also resulted in more intensive farming and subdivision on the 353,000 ha of land which has been freeholded. This contributed to major landscape change and loss of habitat for native plants and animals,” said Eugenie Sage. More>>

ALSO:

Bell Tolls: Big Changes, Grand Mergers Planned For Vocational Training

“At a time when we’re facing critical skill shortages, too many of our polytechnics and institutes of technology are going broke... More>>

ALSO:

Sallies' State Of The Nation: Progress Stalled In Reducing Inequality

The report shows a lack of tangible progress in key areas including record levels of household debt and a growing gap in educational achievement between poorer and more well off communities. More>>

ALSO:

Party Politics In Tax Morale Survey: SSC To Seek Answers From IRD

Minister of State Services Chris Hipkins has today asked the State Services Commissioner Peter Hughes to examine IRD’s reported inappropriate use of a public survey. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels