Air NZ's retail shareholders are getting screwed

Air New Zealand chair Therese Walsh said the airline has been "dealt a really rough time". Image: BusinessDesk)

Mon, 04 Apr 2022

"Follow the money," as the famous cliché goes, and "cui bono", or who benefits, is another useful rule of thumb for journalists.Following the above rules, it's hard to come to any other conclusion than that Air NZ's existing retail shareholders are being right royally screwed.The extent of the discount in Air New Zealand's rights issue was truly shocking to the market.The per-share price of 53 cents of the two-new-shares-for-every-one held issue compared to the last trade at $1.375 before trading was halte...

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