Air NZ sale not yet decided
Though 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.
- Fully vaccinated gamblers no longer need to wear face mask inside Nevada casinos
- Development of web resources
- Hyundai’s luxury brand Genesis to make European debut with launch of Electrified G80
- Canoo seeks patent to protect modular & customizable EV platform architecture
- Democratic Senator Tom Carper wants Biden administration to ban gas-powered cars by 2035