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Australian Competition Watchdog Rejects Qantas-Air New Zealand Alliance.
Knight Ridder/Tribune Business News, September, 2003
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Sep. 9--SYDNEY, Australia--The Australian Competition and Consumer Commission (ACCC) on Tuesday rejected a proposed A$500 million (US$325 million) alliance between Australia's national carrier Qantas and Air New Zealand as "highly anticompetitive." Qantas has sought authorization from the Australian competition watchdog for the alliance, announced last November, which would see the Australian carrier taking a stake of up to 22.5 percent in Air New Zealand.
"The proposed alliance would be highly anticompetitive and offer little benefit to the Australian public," ACCC Chairman Graeme Samuel said.
Passengers would be denied choice and increased fares would be inevitable...
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