GOVERNMENT TO SELL 25 PCT OF AIR NEW ZEALAND
The New Zealand Government will sell
25 pct of state-owned <Air New Zealand Ltd> to the public,
Civil Aviation minister Richard Prebble said.
    Prebble said in a statement the government would appoint an
adviser to help it decide how the shares should be sold, the
timing of any sales and the price.
    "Clearly there will be a need to gauge the effect of other
proposed share issues so as to enter the market at the best
opportunity," Prebble said.
    "We are in no particular rush to sell our shares in Air New
Zealand," he said.
    "Our aim is to maximise the benefit to the taxpayer. If that
means waiting for a while, then so be it," Prebble said.
    He said Air New Zealand expects to release its results soon
for the year to March 31 1987. He said he was confident it
would post an excellent profit.
    Prebble said Air New Zealand was successful but its ability
to prosper in future was hampered by its
wholly-government-owned status.
    Prebble said access to new sources of capital would
increase its ability to expand and develop.
    This sale announcement follows the public float in March of
around 13 pct of the <Bank of New Zealand Ltd>.
    The government has said it will also float part of the
capital of other state-owned operations, including <DFC New
Zealand Ltd>, formerly Development Finance Corp of New Zealand
Ltd, and Petroleum Corp of New Zealand Ltd.
 REUTER
