TASMAN AIR MAIL
FINAL NEGOTIATIONS TALKS IN LONDON CAPITAL ALLOCATION N.Z. LARGEST HOLDER (Per Press Association.) CHRISTCHURCH, this day. The present stage in the negotiations for the institution of Hie Tasman air mail service, was mentioned to-day by the Minister of Finance, the Hon. W. Nash.
Negotiations between the three Governments concerned would begin in London within the next few days, prior to consultations with the air companies and the formation ol operating companies, Mr. Nash said. Prior to the departure of the managing-director of Union Airways Ltd., Mr. N. S. Falla, for England, a tentative agreement had been reached that his company should act for the Government in negotiations for the formation of an operating company. The Government, however, would be the controlling agent insofar as the New Zealand end was concerned, and that control would be governed by the portion of capital held by New Zealand.
The capital would be apportioned as follows: —New Zealand 39 per cent, Australia 23 per cent, and Great Britain 38 per cent. The High Commissioner, Mr. W. J. Jordan, and Dr. Campbell had been empowered te negotiate on behalf of the Government in the discussions in London.
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Bibliographic details
Poverty Bay Herald, Volume LXV, Issue 19667, 27 June 1938, Page 6
Word Count
195TASMAN AIR MAIL Poverty Bay Herald, Volume LXV, Issue 19667, 27 June 1938, Page 6
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