Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Air New Zealand Says Qantas Has No Veto Rights

Air New Zealand Says Qantas Has No Veto Rights

Air New Zealand has dismissed as nonsense comments attributed by United Future leader, Peter Dunne, to Australian Deputy Prime Minister John Anderson to the effect that Qantas would have the upper hand on the Air NZ Board and sign off every major decision.

The facts are that Qantas has absolutely no power to veto any decision of the Air New Zealand Board. Although a Qantas director must be part of a quorum or a signatory to a written resolution, each director has only one vote and Qantas will have, at most, two directors out of ten. These provisions are purely to allow Qantas to be included in the Board's decision making process - they do not allow them to control it. If Qantas does not attend a meeting or sign a written resolution, any decision will be delayed for 24 hours to be determined by a normal majority regardless of the Qantas position on the issue.

Air New Zealand's CEO Mr Ralph Norris commented:

"These are, from the Board's perspective, perfectly acceptable and appropriate provisions to allow for good corporate governance processes which involve participation by a major shareholder in the company. Most companies require written resolutions to be unanimous, so the Board even under the proposed arrangements has more flexibility than most. These provisions result in Qantas having less influence than would normally be achieved by a shareholder with such a significant investment."

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Wellington: Predator Free Capital Plan

Wellington City Council (WCC), the Greater Wellington Regional Council (GWRC) and NEXT Foundation, today announced a joint collaboration to make Wellington the first Predator Free capital city in the world. More>>


Gordon Campbell: On Judith Collins’ Efforts At Self Correction

Thousands of prisoners currently in prison may be entitled to an earlier release than expected – and compensation – because Corrections has incorrectly calculated their term of imprisonment. Unless of course, the government buries its mistakes by changing the law and retro-actively getting itself off the hook… More>>


More Justice & Corrections

Sector Opposes Bill: Local Government Bill Timeframe Extended

The Minister of Local Government Peseta Sam Lotu-Iiga has asked the Select Committee to extend the report back date for the Local Government Act 2002 Amendment Bill (No 2). More>>


Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>


Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>


General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news