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QANTAS SAYS IT WILL OVERCOME HURDLES IN QUEST FOR AIR NZ STAKE.
SYDNEY, Dec 2 Asia Pulse - Qantas Airways Ltd (ASX:QAN) chief executive Geoff Dixon said today he expected "get around" regulatory hurdles and succeed in snaring a stake in Air New Zealand Ltd.
Qantas's plan to acquire a 22.5 per cent stake in Air NZ for about $A500 million ($US280.25 million), announced last week, has drawn criticism from industry and government bodies on both sides of the Tasman.
Domestic Qantas rival Virgin Blue labelled the sew-up an "effective merger", while travel agents have predicted the deal will drive up air fares.
The Australian Competition and Consumer Commission (ACCC) and New Zealand's Commerce Commission have both expressed initial reservations about the deal.
But today Mr Dixon said much of the criticism was unfounded because details were not yet finalised.
Qantas will issue its formal applications with both countries' regulatory bodies on December 9.
"I think a lot of the opposition is not necessarily well informed," Mr Dixon told Nine Network's Business Sunday program.
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Source: HighBeam Research, QANTAS SAYS IT WILL OVERCOME HURDLES IN QUEST FOR AIR NZ STAKE.