The Fijian government is still interested in buying the 46.3% Qantas shares in Fiji’s national carrier, Air Pacific.
However, Attorney General and Civil Aviation Minister, Aiyaz Sayed-Khaiyum said Qantas has not made an offer to the government.
Sayed-Khaiyum said Qantas wants to agree on the value before the next step is taken.
Meanwhile the Fijian government has changed airline ownership rules in a new Civil Aviation Ownership and Control of National Airlines Decree which now takes away the veto and supermajority rights given to Qantas in Air Pacific.
The Fijian government owns 51% of Air Pacific.
However since 1998, minority shareholder, Qantas has maintained effective control of Air Pacific through supermajority and veto rights over significant areas of the company including the appointment of the Air Pacific Chairman, Deputy Chairman, annual operating budget, any expenditure, new air routes, variations to Air Service schedules, management appointments, employee incentive schemes including bonuses, and numerous other key areas of oversight, control and decision making.
Sayed-Khaiyum said this step had to be taken to ensure that no one has veto or supermajority powers.
Qantas is yet to comment on this development.
Story by: Vijay Narayan
Feature
Govt interested in buying 46.3% Qantas shares in Air Pacific