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Labour’s privatisation history with Air New Zealand

 are insisting the exact right share of  for the Government to own is 73%. Or alternatively they are saying it is only acceptable for the Government to increase their shareholding in , not dilute it.

Well consider their history with Air New Zealand.

  1. Labour privatised it in 1989 – selling it to Singapore owned Brierleys and Singapore Airlines.
  2. Labour bought 80% of it in 2001.
  3. Labour agreed to sell 22.5% to Qantas in 2002 – 2004
  4. Labour never reinvested the dividends so that’s why the share is down to 73% in 2013. It has been a creeping privatisation 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!

Political commentator David Farrar posts at Kiwiblog.

Comments and questions
6

Labour wouldn't know how to run a lemonade stand.
Have any of them been in business?

For starters:

Their leader David Cunliffe worked as a consultant with Boston Consulting Group.

Before politics, deputy leader David Parker was a lawyer with Anderson Lloyd Caudwell, and then bacame a manager in a agri-biotech company, Blis.

Clayton Cosgrove has a background in mineral extraction and telecommunications.

After an early career teaching, Jim Anderton (ok no longer Labour) became an export manager in a textile company, and later owned a manufacturing business.

So only three of them?
Are you sure about Conliffe, I've heard his CV is modified regularly to remove false claims.

Who could forget how Cunner's single handedly thought up, named and implemented Fonterra during his time at BCG.

And what did Blis achieve while David was there - it has been a loss making with so much wasted potential for years and is only just showing signs of making good.

Cosgrove into mining? - surely he should be banned, even before the man ban gets implemented.

Kimlian, to claim Cunliffe has been "in business" is a long bow to draw. He was at BCG for about 2 years, normally you would be a junior during this time, but with his academic qualifications, it's likey he may have gone up a peg. I believe he was highly regarded by BCG. If he is considered to have been "in business" he is grossly inexperienced at best. On Anderton, there will be a good few out there that remember his manufacturing business, they made shopping trollies, the ones where the two front wheels went in different directions leaving black skid marks on he supermarket floor.

The Govt has bailed out Air NZ twice that is the only reason it owns any of it, they were stuck with it, good thing they are selling , Air NZ will never survive the competition of Emirates and Qantas