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$885 million not enough CS First Boston

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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