INDEPENDENT NEWS

Shareholders approval for Airways Corp involvement

Published: Mon 3 Jul 2000 06:37 PM
Shareholding ministers Michael Cullen and Trevor Mallard have agreed to Airways Corporation's continued participation in a consortium that intends to bid for a portion of the UK-based National Air Traffic Services.
"The deadline is approaching for expressions of interest to be submitted to the British Government," Trevor Mallard said.
"Dr Cullen and I have this afternoon agreed to allow Airways Corporation to remain a party to the consortium, in the consultancy role previously agreed to by Shareholding ministers.
"At a latter point in the tender process, the consortium will be required to draw up and submit a Shareholders Agreement.
"That agreement will require the approval of Shareholding ministers, who will be seeking appropriate assurances from the Board that Airways involvement will not in any way detract from the company's core business of providing safe and efficient air navigation systems in New Zealand," Trevor Mallard said.
ends

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