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Ansett/Air NZ Deal Approved

The New Zealand Commerce Commission has given its approval to Air New Zealand’s purchase of the 50% of Ansett Holdings owned by TNT. The deal now has to receive approval from the Australian Foreign Investment Review Board, although this is expected to be forthcoming.

The NZ Commerce Commission originally rejected the deal as it feared a monopoly of competition on the NZ domestic market if the two rivals, Air NZ and Ansett NZ, had a common owner. That situation has been overcome by Ansett’s other shareholder, News Ltd, which will purchase a 100% interest in Ansett NZ.

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