Opposition parties are warning the Government is putting Air New Zealand at risk by increasing its private ownership to 47 per cent. The Government is reducing its shareholding in Air New Zealand from 73 per cent to 53 per cent and the sale is expected to be completed by Tuesday.
Trading in the shares will be suspended today and tomorrow.
Labour Party leader David Cunliffe says the last time Air New Zealand was in predominantly private ownership, it got into trouble and the then-Labour Government had to bail it out. Green Party co-leader Russel Norman says the Government is rushing the sale before the result of a referendum into asset sales is known.
But Mr English told Morning Report the referendum is irrelevant to the Government's decision to sell.