Air NZ fears for future after Qantas bid fails
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AIR New Zealand today claimed it faced an uncertain future after the countryâs High Court threw out plans for a tie-up with Qantas, its Australian-based rival.
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Air New Zealand was left with the New Zealand Government as its only substantial shareholder yesterday after Singapore Airlines sold its remaining 6.3 per cent stake in the Kiwi carrier for $NZ61.
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Qantas Airways Ltd. should not seek another airline to replace British Airways Plc if the UK carrier sells its stake in the business, Qantas Chief Executive Geoff Dixon said.
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Australia&#39;s aviation market is facing major changes in the wake of a failed takeover bid for Qantas, analysts say, with major fleet expansions and aggressive newcomer Tiger Airways starting flights this year.
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Australia's Qantas Airways Ltd.  rejected a A$10.9 billion ($8.6 billion) buyout offer from a group led by Macquarie Bank Ltd.  and private equity firm Texas Pacific Group , sending its shares down 2.7 percent.
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Criticism over failure to close 'dangerous' airport.
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WELLINGTON : National carrier Air New Zealand will revisit its plans for an alliance with Australia&#39;s Qantas Airways in two or three years, Air New Zealand chief executive Ralph Norris said.
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WELLINGTON: National carrier Air New Zealand said yesterday the Australian Competition Tribunal has approved a proposed alliance with Qantas Airways Ltd, despite its rejection in New Zealand.
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WELLINGTON : Trading in Air New Zealand stock resumed, a day after Singapore Airlines (SIA) sold off its 6.3 percent stake in the flag carrier for 61.
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Australia's Qantas Airways  said on Thursday it has accepted an A$11.1 billion ($8.7 billion) revised buyout offer led by Macquarie Bank Ltd.  and private equity firm Texas Pacific Group at A$5.60 a share.
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Qantas Airways Ltd.&#39;s proposed alliance with Air New Zealand Ltd. was rejected by New Zealand&#39;s High Court, the latest blow in the carriers&#39; two-year attempt to team up to cut costs and ward off airlines such as Emirates.
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New Zealand&#39;s High Court on Monday rejected as uncompetitive a proposed alliance between the country&#39;s flag carrier and Australian rival Qantas in a deal that Air New Zealand had claimed was critical to its long-term survival.
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SINGAPORE: Singapore Airlines (SIA) will sell its 6.3 percent stake in Air New Zealand, officially ending its venture in the now government-controlled carrier.
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AustraliaÂs national carrier, Qantas, said that it had been approached by Macquarie Bank and the Texas Pacific Group amid speculation of a takeover.
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New Zealand&#39;s High Court on Monday rejected a proposed alliance between the country&#39;s flag carrier and Australian rival airline Qantas.
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AUCKLAND: National flag carrier Air New Zealand said it had lost a court bid to win approval for an alliance with its Australian competitor Qantas.
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Australia&#39;s main airline carrier, Qantas, says it won&#39;t appeal the New Zealand High Court&#39;s rejection of a proposed alliance with Air New Zealand.