ANNOUNCEMENT 26 Mar 2012In March 2012, the government of Fiji announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Fiji Government Online Portal, 'Decree No. 26 of 2012' (Republic of Fiji Government Gazette Vol. 13 No. 44): http://www.fiji.gov.fj/index.php?option=com_docman&task=doc_details&gid=514&Itemid=189
ABC News :http://www.abc.net.au/news/2012-03-28/fiji-to-take-control-of-air-pacific-from-qantas/3918076
On March 26, 2012, Fiji's military authorities issued Decree No. 26 of 2012 to seize Air Pacific. Air Pacific was owned by Qantas, an Australian Airline, with 46.3 per cent of the shares and by the Fiji state with 51 per cent of the shares. According to Fiji's authorities, Air Pacific is de facto controlled with veto rights by Quantas; despite being minority shareholder.
Fiji's authorities tried to nationalise the airline in 2010, but no agreement was made. Now, the authorities claim that the seizure was not related to the 2010 failure, but to the fact that Qantas had veto rights over operational decisions of Air Pacific while being one of the competitors through Quantas' subsidiary Jetstar. Qantas officials denied having such veto rights.