Bailout Or Takeover
Wednesday, 28 November 2001, 9:25 am
Press Release: New Zealand National Party
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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