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Bailout Or Takeover

National's Associate Finance spokesperson David Carter shares the growing concern amongst analysts that the Government bailout of Air New Zealand is effectively a takeover.

"Running an airline is a specialist business, and especially in the current global market it carries even greater risks than in the past," says Mr Carter.

"We have Finance Minister Michael Cullen saying the Government intends staying the majority shareholder in Air New Zealand for the indefinite future, and that is the point that is causing a great deal of concern in the market.

"The current Government can not even run its own core business of health and education which is a complete mess, so it is no wonder there is little faith in it running such a complex operation as a major airline company.

"Already one billion dollars of taxpayer money has gone into Air New Zealand and those with aviation knowledge are saying more will be needed. What Air New Zealand needs now is skilled people driving its operation, not people who can't even get basics like hospital services under control," says Mr Carter.

Ends

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