4 October 2001 Media Statement

Air NZ rescue package great news for tourism industry

Air New Zealand's vital importance to the tourism industry was a key influence on the government's decision to take the lead role in saving New Zealand's national flag carrier, the Minister of Tourism Mark Burton said.

The government will invest up to $885 million in two stages to secure the future viability of Air New Zealand. This will give the government up to 83% of the company's share capital.

“It is important to the economy in general, and to the tourism industry in particular, that Air New Zealand continues to promote the New Zealand brand abroad,” Mark Burton said.

"It would be a disaster for our tourism industry if our national flag carrier disappeared and there was no airline flying directly to New Zealand from crucial markets like Japan.

"The airline industry around the world has been thrown into turmoil since the terrorist attacks on America. Air New Zealand had its own problems before that. The government will now give Air New Zealand a strategic direction and purpose.

"I am sure the tourism industry will work with the government and Air New Zealand in a cooperative manner to ensure that we continue to offer our visitors a world-class experience," Mark Burton said.

ENDS

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