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Cullen Must Come Clean On Air NZ Deal

25 July 2002

Cullen Must Come Clean On Air NZ Deal

Pressure is mounting on Finance Minister Michael Cullen and the board of Air New Zealand to come clean on the future of Air New Zealand, says National Finance Spokesperson David Carter.

“A Sydney Morning Herald article quoting a research note by Salomon Smith Barney today reinforces speculation that a deal has been done between Air New Zealand and Qantas.

“Expectation in the market place is that shortly after the election, the sale of 25% of Air New Zealand to Qantas for between $350 and $400 million will be announced.

“How much longer can Michael Cullen deny a deal has been done. His continual denial is a bad look right on election time.

“New Zealand voters must be told what is happening to their national flag carrier before the election

“Michael Cullen and the board must explain why he thinks a sale to Qantas is in the best interests of Air New Zealand, New Zealand’s traveling public and New Zealand’s $5 billion per annum tourism industry,” Mr Carter said.

Ends


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