Air NZ has delivered 8.4% annual return to government since 2002 rescue, Treasury estimates

Fri, 20 May 2016

By Jonathan Underhill May 20 (BusinessDesk) - The government was forced to re-nationalise Air New Zealand in 2002 to save the airline from bankruptcy but the investment has paid off in the long run by delivering an annual return estimated at 8.4 percent, the Treasury estimates. The Crown took an 82 percent stake in Air New Zealand at the start of 2002 to save a company reeling from its disastrous investment in Ansett Australia, which it was forced to put into administration in September 2001, a day after reporting a net loss of $1.4 billi...

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