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Article: Qantas-Air New Zealand Bid Gets Rejected
- Article from:
- AP Online
- Article date:
- October 23, 2003
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
10-23-2003
Dateline: WELLINGTON, New Zealand
New Zealand's competition watchdog has again rejected an alliance between Air New Zealand and Australia's Qantas airline, citing concerns that competition would suffer.
In a ruling Thursday, the Commerce Commission decided the proposal "would damage competition and harm consumers and is therefore not in the interests of New Zealanders." The commission issued the same ruling in its initial finding six months ago.
The Australian carrier is seeking to buy 22.5 percent of Air New Zealand for 550 million New Zealand dollars ($330 million).
Air New Zealand warned in August it could collapse within six years as it would be poorly positioned in ...