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A platform for research: civil engineering, architecture and urbanism
Restructuring the New Zealand railway system: 1982–1993
The New Zealand (NZ) railway system has undergone considerable regulatory and institutional changes over the past decade. Prior to 1982, the railway system was managed by the NZ Railways Department and it was frequently used as an instrument of the Government's social and economic policies. The NZ Railways Corporation was established on 1 April 1982 with the major objective of running its operations on a more commercial basis. This was followed by the total deregulation of the road transport industry in 1983. Over the next few years the Corporation responded well to these changes by making dramatic gains in overall efficiency. However the financial costs of this restructuring were considerable and, by 1989, the Corporation was on the verge of technical bankruptcy. This resulted in the Government substantially restructuring the NZ Railways Corporation balance sheet in 1990 and the establishment of NZ Rail Ltd on 28 October 1990. By June 1992, NZ Rail Ltd had achieved profitability and staff numbers had been dramatically reduced to 5400, down from 21600 in 1982. NZ Rail Ltd was finally sold (i.e. privatized) on 30 September 1993 to a consortium of United States and New Zealand bidders. This paper examines the restructuring and performance of the railway system in New Zealand from 1982 to 1993.
Restructuring the New Zealand railway system: 1982–1993
The New Zealand (NZ) railway system has undergone considerable regulatory and institutional changes over the past decade. Prior to 1982, the railway system was managed by the NZ Railways Department and it was frequently used as an instrument of the Government's social and economic policies. The NZ Railways Corporation was established on 1 April 1982 with the major objective of running its operations on a more commercial basis. This was followed by the total deregulation of the road transport industry in 1983. Over the next few years the Corporation responded well to these changes by making dramatic gains in overall efficiency. However the financial costs of this restructuring were considerable and, by 1989, the Corporation was on the verge of technical bankruptcy. This resulted in the Government substantially restructuring the NZ Railways Corporation balance sheet in 1990 and the establishment of NZ Rail Ltd on 28 October 1990. By June 1992, NZ Rail Ltd had achieved profitability and staff numbers had been dramatically reduced to 5400, down from 21600 in 1982. NZ Rail Ltd was finally sold (i.e. privatized) on 30 September 1993 to a consortium of United States and New Zealand bidders. This paper examines the restructuring and performance of the railway system in New Zealand from 1982 to 1993.
Restructuring the New Zealand railway system: 1982–1993
Cavana, R. Y. (author)
Transport Reviews ; 15 ; 119-139
1995-04-01
21 pages
Article (Journal)
Electronic Resource
Unknown
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