Paul Phelan/CAIRNS
AIR NEW ZEALAND (ANZ) remains adamant that it will press ahead with attempts to buy a stake in Ansett Australia, despite an apparent outright rejection of its latest offer.
ANZ initially proposed to take over the 50% stake held by News Corporation, which is Ansett's co-owner, together with TNT. Negotiations foundered over price and conditions and a revised deal, which would have resulted in ANZ becoming a third equal partner in the carrier, has also been rejected.
Ansett Australia chairman Ken Cowley has effectively quashed any immediate prospects of a deal with ANZ.
In an internal memo on 24 July, Cowley told Ansett staff that News Corporation "...will be retaining its investment in Ansett for the long term". A top-management shake-up is also ruled out by Cowley.
The memo goes on to admit that the carrier will "...face some difficult challenges in the coming months". Falling market share and tough domestic competition are expected to leave Ansett with a small loss in the second half of the financial year.
ANZ rejects suggestions that a deal has now been ruled out, however. "It's still a live issue from our perspective, and we intend to pursue our options for acquiring an interest in Ansett," says the airline.
The New Zealand carrier adds that it is determined to press ahead regardless with re-organisation of its own network, including the regional and tourist routes which it contests with Ansett New Zealand.
"We are not putting the development of ANZ as an operator in limbo while we try to negotiate the acquisition of an interest in Ansett," the airline says.
Source: Flight International
