Air NZ sale not yet decided

Air NZ sale not yet decidedThough business analyst Brian Gaynor mentioned on Thursday that there is a strong possibility for the Government to sell off part of its stake in Air New Zealand in the next couple of weeks yet no confirmation has been received from the government.

The Government intends to sell51%  out of the 73% that it owns  as part of its asset sale programme, but has not given any indication about the time.

Mr Gaynor who is also the executive director of Milford Asset Management, said regulations about insider trading points towards when and how the Government sells the shares, and the window of opportunity is small.

"The Government gets monthly accounts from Air New Zealand, therefore, it's considered to be an insider.

"Under the insider trading guidelines, the Crown cannot sell the shares after the first of December until the beginning of March. If it wants to sell them over the next two or three months it has to sell those shares by the end of November."

Mr Gaynor told Radio also added that airlines are always considered a risky investment, but Air New Zealand has been doing considerably well.

Labour's SOEs spokesperson Clayton Cosgrove said, National's rush to sell Air New Zealand shares  just before the asset sales referendum is a sign of  desperation and reveals arrogance of  highest order.

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