05 January 2008

New Zealand Superannuation Fund investments in civil aviation

Apart from Air New Zealand and an interest in the industry through NZ Post, how many airlines (and other civil aviation businesses for that matter) do New Zealand citizens/taxpayers through the New Zealand Government have shares in?

Have a look at this lengthy 30 June 2007 equity portfolio list from the New Zealand Superannuation Fund. About half the fund's NZ$14bn (and growing) is invested in international equities. On a quick skim read I spotted (all amounts in NZ$m):

Australia
Macquarie Airports $4.93m
Qantas Airways $2.40m
Toll Holdings $0.5m

Austria
Flughafen Wien AG $44.85m

Brazil
Empressa Bras de Aeronautica $1.62m
TAM SA $1.67m

Canada
Ace Aviation Holdings $0.21m
Bombardier $0.72m
CAE $0.28m
Jazz Air $0.009m

Denmark
Kobenhavns Lufthavne $48.79m

France
Air France KLM $10.60m

Germany
Deutsche Lufthansa $7.54m
MTU Aero Engines Holding $1.05m

Hong Kong
Cathay Pacific Air $0.28m

Japan
Airport Facilities $0.04m

Mexico
Grupo Aeroportuario Sur $2.40m

New Zealand
Air New Zealand $15.46m
Auckland International Airport $76.86m
Infratil $35.00m

Singapore
Singapore Airlines $1.03m

South Korea
Korea Airport Service $0.13m

Sweden
SAS AB $1.14m

Switzerland
Unique Zurich Airport $191.74m

United Kingdom
British Airways $1.89m
Easyjet $0.80m
Rolls Royce $2.81m

United States of America
AMR Corporation $0.86m
Atlas Air Worldwide Holdings $0.05m
Boeing $6.05m
Continental Airlines $3.14m
Delta Air Lines $0.73m
General Electric $36.60m
Northwest Airlines Corporation $0.90m
Spirit Aerosystems Holdings $1.39m
United Technologies $4.64m

The notable feature is the size of equity investment in airports.

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