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eTravelBlackboard: Air Pacific seeks to gain control from QF
Turism&Travel   In a sudden move, Fiji's military government changed airline ownership rules yesterday, in a bid to reduce Qantas' power over the country's national airline.

Currently holding up to 46 percent stake in the carrier, Qantas has denied Air Pacific’s claims that it has power over key business operations and decision making, Today on Line reported. A Qantas spokesperson told media is “completely incorrect” to suggest that Qantas has control over Air Pacific’s operational business. According to the Fijian Government, it has reassessed its foreign-ownership laws because Qantas has “maintained effecting control” via “super majority and veto rights”. The Fijian Government highlighted that Qantas has the power on the appointment of the chairman, deputy chairman, operating budget, management appointments and other decisions making rights. Under the new rules implemented by the military government at least two thirds of Air Pacific’s board members are Fijian and that the airline is “under actual and effective control of Fijian citizens” The Fijian Government has a 51 percent share in Air Pacific and currently four of Air Pacific’s nine directors are Qantas appointees. Qantas will look into the implications of the new ownership rules and “determine what impact this had on our minority shareholding in the airline,” a Qantas spokesperson said. Source = e-Travel Blackboard: S.P
Publicat de: eTravelBackboard
Joi, 29 Martie 2012 - 04:15 AM

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