"Peters added for good measure: “Some of the comments I’ve heard about privatisation…are just ridiculous. [NZ] has been through that twice [with Fay-Richwhite and Toll.] It got run-down twice in the past....”
Indeed, [NZ] did end up having to buy back its rail service. Similarly, we also had to bail out the BNZ twice, spend $900 million to buy back ... in Air New Zealand – and ... to subsidise an aluminum smelter for all eternity."
[#]NZPol #privatisation
https://werewolf.co.nz/2024/12/gordon-campbell-on-the-latest-round-of-ferry-follies/
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