Editing Tranz Rail (section)

===Asset sales===
[[File:Aratere.jpg|thumb|200px|Tranz Rail introduced the ferry {{ship|DEV|Aratere}} in 1999.]]
In December 1996, Tranz Rail sold the [[New Zealand DF class locomotive (1979)|DFT class]] of locomotives to the [[Chicago Freight Car Leasing Company]] for $131.5 million. It then leased the locomotives back for a period of 12 years. The lease ended on 19 December 2008 with the locomotives ownership returning to Tranz Rail's successor, KiwiRail.<ref>{{cite web|url=http://www.stuff.co.nz/business/8237/Rolling-stock-decision-looms-for-Toll-NZ|title=Rolling stock decision looms for Toll NZ|date=20 August 2007|accessdate=29 December 2011|work=[[The Dominion Post (Wellington)|The Dominion Post]]|author=NZPA|author-link=NZPA|archive-date=12 December 2013|archive-url=https://web.archive.org/web/20131212231700/http://www.stuff.co.nz/business/8237/Rolling-stock-decision-looms-for-Toll-NZ|url-status=live}}</ref>

Tranz Rail's chairman [[Ed Burkhardt]] resigned in August 1999 as a result of resigning as the chairman, CEO and president of Wisconsin Central. Industry insiders put this down to his preference to re-invest revenues rather than paying dividends to shareholders.<ref>{{cite news|url=http://findarticles.com/p/articles/mi_m1215/is_8_200/ai_55558027/|title=Why Wctc Jettisoned Ed Burkhardt – resignation of Wisconsin Central Transportation Corp. chairman, president and CEO|publisher=[[Railway Age]]|date=August 1999|accessdate=5 January 2012|archive-date=10 September 2010|archive-url=https://web.archive.org/web/20100910012110/http://findarticles.com/p/articles/mi_m1215/is_8_200/ai_55558027/|url-status=live}}</ref> Wisconsin's new board sold the company to the [[Canadian National Railway]] on 9 October 2001. Canadian National then put its 24% shareholding in Tranz Rail up for sale.<ref name="gaynor_tough_case">{{cite news|url=http://www.nzherald.co.nz/brian-gaynor/news/article.cfm?a_id=14&objectid=3601119|title=A tough case ... and a long one|author=Brian Gaynor|author-link=Brian Gaynor|accessdate=5 January 2012|year=2003|work=[[The New Zealand Herald]]|archive-date=7 January 2016|archive-url=https://web.archive.org/web/20160107192103/http://www.nzherald.co.nz/brian-gaynor/news/article.cfm?a_id=14&objectid=3601119|url-status=live}}</ref>

Tranz Rail also contracted out services which were previously provided in house. [[Alstom]] was contracted for locomotive servicing and took over the [[Hutt Workshops]], while [[Transfield Services]] took over track maintenance.

In June 2001, Tranz Rail sold 50% of [[Tranz Scenic]] to two directors of the [[Victoria (Australia)|Victoria]], Australia rail operator [[West Coast Railway (Victoria)|West Coast Railway]] for $33 million.<ref name="Auckland_metro" /> This sale included long-distance passenger rolling stock and ten diesel locomotives of the [[New Zealand DC class locomotive|DC class]], reclassified as the DCP class, and two [[New Zealand EF class locomotive|EF class]] electric locomotives. In 2004 this share was purchased by Toll NZ, as one of the West Coast Railway directors had died and the business was not performing adequately.<ref>{{cite news|url=http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=3567605|title=Toll NZ buys back Tranz Scenic passenger services|date=20 May 2004|accessdate=10 January 2012|work=The New Zealand Herald|archive-date=13 January 2014|archive-url=https://web.archive.org/web/20140113093531/http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=3567605|url-status=live}}</ref>

On 24 December 2001, Tranz Rail sold the Auckland suburban rail network to the New Zealand Government for $81 million.<ref name="Auckland_metro">{{cite news|url=http://www.nzherald.co.nz/transport/news/article.cfm?c_id=97&objectid=583728|title=Auckland rail deal clinched|work=[[The New Zealand Herald]]|date=24 December 2001|accessdate=10 January 2012|archive-date=13 January 2014|archive-url=https://web.archive.org/web/20140113092804/http://www.nzherald.co.nz/transport/news/article.cfm?c_id=97&objectid=583728|url-status=live}}</ref> In 2003 a competitive tender was held to find a new operator for the suburban passenger services, which Tranz Rail did not bid for. Connex (later renamed [[Transdev Auckland]]) won the contract, and took over Tranz Metro's Auckland operation from 23 August 2004.<ref>{{cite news|url=http://www.nzherald.co.nz/traffic/news/article.cfm?c_id=348&objectid=3586089|title=New hand on lever of Auckland's trains|author=Matthew Dearney|work=[[The New Zealand Herald]]|date=23 August 2004|accessdate=9 January 2012|archive-date=11 November 2013|archive-url=https://web.archive.org/web/20131111110555/http://www.nzherald.co.nz/traffic/news/article.cfm?c_id=348&objectid=3586089|url-status=live}}</ref>