Air New Zealand's chief executive says the Government's selldown of its stake in the airline was well executed but makes no difference to the company's operations.
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Christopher Luxon. Photo: AIR NEW ZEALAND
Speaking for the first time since the Government sold the 221 million shares for $1.65 each, Christopher Luxon says he's more focused on running the business for the long term than on day-to-day fluctuations in the share price.
"I think people when they make investments in businesses and companies have really got to focus on the long-term and the long-term prospects, I think, for Air New Zealand with the growth that exists in the Asia Pacific region is incredibly exciting."
Air New Zealand shares fell as low as $1.525 after the share sale before closing at $1.60 on Friday.
Mr Luxon says he doesn't know what the Australian government is likely to do in response to Qantas' complaints about foreign airlines, including Air New Zealand, supporting Virgin Australia's $350 million capital raising.
Qantas has said the foreign airlines' decision to invest in Virgin's loss-making strategy shows that those airlines aren't subject to the same commercial realities as Qantas.