'Disappointing' Air New Zealand share price erodes urgency on Crown to sell down stake

Wed, 18 Jul 2012

By Paul McBeth July 18 (BusinessDesk) - Air New Zealand's "disappointing" share price means the government won't be in a hurry to sell down its three-quarter stake in the national carrier, which is ready to go at any time. Chairman John Palmer told Parliament's finance and expenditure committee the airline's slim profit margins from a tough global environment had weighed on the shares, which weren’t reflecting any of the upside from Air New Zealand's cost-cutting measures or its partnership with Virgin Australia. The airline's stock rose 1....

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