Air NZ Consents to Prospectus Statement

21st Aug 2002

Air New Zealand has consented to the following statement being included in a prospectus being filed by Qantas today with the Australian Securities and Investments Commission:-
“Qantas is in discussions with Air New Zealand about the possibility of a strategic alliance between the two companies and an acquisition by Qantas of a minority equity interest in Air New Zealand. While both Qantas and Air New Zealand believe that such an alliance would be of value to both airlines, discussions are ongoing. However, no agreement or commitment has been reached or entered into at this time and no assurances can be given as to what, if any, agreement will be reached. Any agreement reached would be conditional on a number of approvals, including regulatory and Air New Zealand shareholder approval. If any agreement is reached, part of the proceeds of the Entitlement Offer may be used to fund the acquisition of shares in Air New Zealand.”



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