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TEAL meaning in General ?

Answer» What is Tasman Empire Airways Limited mean?

Tasman Empire Airways Limited (1940–1965), better known as TEAL, is the former name of Air New Zealand Limited (1965–).

The company was formed by an Intergovernmental Agreement for Tasman Sea Air Services (also known as the Tasman Sea Agreement), a treaty signed by the United Kingdom, Australia, and New Zealand in London on 10 April 1940. TEAL was first registered in Wellington as a limited liability company on 26 April 1940. The company's purpose was originally to transport mail, passengers and cargo across the Tasman Sea between Australia and New Zealand, during World War II. The treaty was originally intended to end within three months after hostilities with Germany ended, however was extended in 1949, the agreement ended on 31 March 1954, with control and ownership passing into normal commercial arrangements.

The shares were originally held by the New Zealand Government (20%), Union Airways (19%), BOAC (38%) and Qantas (23%).

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