Originally Posted by
garykung
2. As the majority shareholder, the NZ Government can push NZ to refund even without any legislation.
They can pressure NZ as much as they like. It doesn't mean NZ have to do anything about it. The Board, and by extension the Executive, are operationally independent from the shareholders.
The Board and Executive are given significant leeway to act in what they believe to be in the best interests of the company. It is obviously not in the best interests of the company to refund every ticket as this would result in significant cash flow issues.