Labour are insisting the exact right share of Air New Zealand for the Government to own is 73%. Or alternatively they are saying it is only acceptable for the Government to increase their shareholding in Air New Zealand, not dilute it.
Well consider their history with Air New Zealand.
- Labour privatized it in 1989 – selling it to Singapore owned Brierleys and Singapore Airlines.
- Labour bought 80% of it in 2001.
- Labour agreed to sell 22.5% to Qantas in 2002 – 2004
- Labour never reinvested the dividends so that’s why the share is down to 73% in 2013. It has been a creeping privatization since 2001.
National has sold 20% to New Zealanders. The Clark Government tried to sell 22.5% to Qantas, who are not only foreigners (not that I care about that) but would have destroyed trans-Tasman competition!Tags: Air New Zealand, Labour