$885 million not enough CS First Boston
Tuesday, 6 November 2001, 9:59 am
Press Release: ACT New Zealand
Monday 5 Nov 2001 Rodney Hide Press Releases --
Economy
CS First Boston's report on Air New Zealand
is more bad news for taxpayers, ACT Finance Spokesman MP
Rodney Hide said today.
"Credit Suisse First Boston
restates its sell recommendation on the airline's shares
and declares the government's injection of $885 million
insufficient to bail out Air New Zealand.
"The entire
$885 million must be borrowed and the financing cost is
$60 million a year to the taxpayer. CS First Boston
suggests $885 million is just the start. Sadly, think
they are right," concluded Rodney Hide.
ENDS
For more information visit ACT online at
http://www.act.org.nz or contact the ACT Parliamentary
Office at act@parliament.govt.nz.
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