20 MAY: The NZ government is going to sell part of its Air NZ shareholding, Finance Minister Bill English announced in yesterday’s Budget.
But it will retain a majority stake in the carrier.
The government bought 80% of Air NZ for $NZ880m in 2001 after the airline ran into financial difficulties with its purchase of Ansett and the Australian carrier’s subsequent collapse.
Yesterday’s Budget also provides for the establishment of a $NZ5.5 billion fund for the rebuilding of earthquake-ravaged Christchurch.




