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 Tourism’s Endless Sense Of Grievance

Sad that a once in a century pandemic should have come along before the government had a clearly thought out plan for rescuing all the firms and saving all the jobs in the tourism sector. Sad that the government now looks like it was making up the criteria for support as it went along. But guess what? To some extent, they were. Possibly because in the modern era, a pandemic had never before caused international travel to evaporate almost overnight... More>>

 

PREFU: Economy Doing Better Than Forecast

The Pre-election Economic and Fiscal Update released today shows that the near-term economic recovery has been stronger than the Treasury and many economists predicted at the May Budget, as the economy bounced back strongly out of lockdown... More>>

ALSO:


PM Statement: Cabinet COVID-19 Alert Level Review

Takiri mai te ata, ka ao, ka ao, ka awatea, tihei mauriora! Tātou katoa ngā iwi o Aotearoa, tēnā koutou! Tēnā tātou e whakanuia ana i te wiki nei, te wiki o te reo Māori Greeting to you all from Otepoti, Dunedin. This week is the Māori ... More>>

ALSO:

Greens: $297m Fund To Support Sustainable Food And Farming

The Green Party has released its Farming for the Future Plan, including a $297m fund to support farmers and growers to transition to climate-friendly practices. The plan will: · Improve how we look after our land and water, with a levy on the ... More>>

ALSO:

National: Plan To Restore NZ’s Prosperity

National’s Economic and Fiscal Plan carefully balances the need to invest in infrastructure and core public services while also reducing tax pressure on Kiwi families and businesses. National Leader Judith Collins and Finance spokesperson Paul Goldsmith unveiled National’s ... More>>

ALSO:

NZ First: Party List

New Zealand First has a proven twenty-seven-year history of bringing balance and common sense to our government. Amid the continued setbacks of COVID-19 restrictions, New Zealand First has once again sustained its profile by selecting a strong team ... More>>

Election: Arriving Travellers In Isolation To Be Able To Vote By Telephone

Up to 5,000 people in managed isolation or quarantine will be able to vote by telephone in the general election and referendums after an amendment to electoral regulations last week. Chief Electoral Officer Alicia Wright says the Electoral Commission sought ... More>>

National: Investing In Our Children’s Future

A National Government will prioritise lifting achievement for all New Zealand children, no matter their background or ability, National Party Leader Judith Collins and National’s Education spokesperson Nicola Willis say. “Parents just want what’s best for ... More>>

Police: Numerous Arrests Following Investigation Into Historical Offending At Auckland School

Detective Senior Sergeant Geoff Baber, Auckland City Police: Police have made six arrests as part of an operation investigating historical offending at Dilworth School. Auckland City Criminal Investigation Branch have been investigating since a complaint ... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 


 

InfoPages News Channels