I see complaints from the chattering classes that plans to sell TranzScenic or to partner with another company “would be privatisation by stealth.”
Who are they kidding?
The true value of KiwiFail has already been found on the open market: zero. Even the Finance Minister knows this. It is a company that absorbs more value than it produces, generating insufficient business even to pay for its capital; a “business” only able to survive by sucking off the state tit.
That said, there are around seven lines in the KiwiRail portfolio that could turn a profit, according to Liberty Scott, lines with real value that could be sold off.
Let’s hope they will be. Soon.