INDEPENDENT NEWS

No change in Airline Investment Stance

Published: Mon 20 Nov 2000 05:19 PM
20 November 2000 Media Statement
No change in Airline Investment Stance
New Zealand’s policy on foreign investment in Air New Zealand has not changed, Transport Minister Mark Gosche said today.
Mr Gosche was commenting on a media report that a new multilateral air agreement between New Zealand, the United States, Singapore, Brunei and Chile, agreed to this week, could lead to an easing of restrictions on the foreign ownership of Air Zealand.
Mr Gosche said the New Zealand government’s policy on this issue remained the same as it had been previously.
“That policy requires that designated New Zealand international airlines will continue to be required to be substantially owned and effectively controlled by New Zealand nationals.
New Zealand has 17 bilaterals in which there are no requirements for its airlines to be “substantially owned” by New Zealand nationals.
The new multilateral agreement saw the other parties to that agreement persuade the United States that it was not necessary to have such a restriction in an intergovernmental agreement.
The removal of this criterion removes a possiblility for another state (in this case the United States) to refuse to accept the designation of an airline of any of the other four countries on the grounds of the source of its equity.
“The Government’s policy on this issue is not up for negotiation,” Mr Gosche concluded.
ENDS

Next in New Zealand politics

Jacinda Ardern’s remarks following summit
By: New Zealand Government
NZTA Board refreshed and refocused
By: New Zealand Government
Climate Change Adaptation and Risk Assessment Framework
By: New Zealand Government
Mana whenua reach decision on Ihumātao land
By: RNZ
PM to visit Japan and attend the UN General Assembly
By: New Zealand Government
PM's Post-Cab 16/9/19: A Way Forward
By: The Scoop Team
Gordon Campbell on allegations of left wing media bias
By: Gordon Campbell
Tighter gun laws for the safety of all
By: New Zealand Government
New Zealand-Japan relationship strengthened
By: New Zealand Government
eGates open to Japanese travellers
By: New Zealand Government
Twyford is the issue, not the board
By: New Zealand National Party
Too little too late for funding switch from rail to road
By: New Zealand National Party
First national voluntary emissions offset guidelines
By: New Zealand Government
NCCRA a start but local focus needed
By: LGNZ
Forest & Bird calls for urgent action on ocean acidity
By: Forest And Bird
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media