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Former prime minister John Key has taken a directorship with Air NZ. Key, who in March left Parliament after resigning following 8 years in power, will be a director from September. Air NZ chairman Tony Carter said it had been trying to get Key as a director since the former prime minister announced his resignation in December. "John will bring extensive international commercial experience, outstanding leadership skills, global perspective and a keen understanding of the tourism sector gained during the years he was tourism minister as well as prime minister of New Zealand." Key said he was delighted to have been approached by the Air NZ board. Carter said the airline's growth of its international operations around the Pacific Rim were a strong focus for which it wanted a director with international experience. <br/>

A record plane-buying spree is poised to land SIA in an unfamiliar territory. The carrier is expected to turn to a net-debt position as early as 2018 -- for the first time in 13 years -- as the company borrows money and sells bonds to meet capital expenditure needs, analysts say. SIA, which has traditionally limited its debt load, would benefit from raising funds more cheaply through borrowings to improve return ratios and valuations, equity research firms including OCBC Investment Research and Crucial Perspective say. The airline, which has US$53b of aircraft on order, expanded a medium-term note program by two thirds to $5b in April and said it intends to “proactively” take on more debt in future. The carrier’s 5-year average return on equity is below that of Cathay Pacific Airways , according to data compiled by Bloomberg. <br/>