Former Air New Zealand chief executive Gary Toomey has dismissed reports he received a multi-million dollar golden handshake for quitting the ailing carrier.
Mr Toomey said his redundancy provisions were the same as those of any member of the Air NZ staff.
"All this speculation about large sums of money is ridiculous," he said.
His comments follow media reports this morning he was in line for a severance package worth between $1.8 million and $4 million.
The Press Newspaper in Christchurch said Mr Toomey negotiated a redundancy package two weeks ago that would see him receive at least one year's salary -- worth $1.8 million -- and possibly more.
The Dominion valued Mr Toomey's payment at up to $4 million.
Mr Toomey said his redundancy settlement was a private matter between him and his employers.
"I have agreed with the (Air NZ) board to keep that confidential," he told National Radio.
"It is certainly not multiples of salary or anything like that."
After a turbulent nine months in the job, Mr Toomey resigned yesterday rather than implement the restructuring plan which he had prepared for Monday's board meeting.
Under the Toomey plan, at least 800 airline jobs will go as management layers are stripped out and routes cut.
Analysts are tipping more cuts if the global aviation slump worsens.
Speculation that Mr Toomey would quit intensified last Thursday when his seat was empty at the press conference to announce the Government's $885 million bailout.
His departure leaves Government-appointed Air NZ director Roger France -- a former chartered accountant with no airline management experience -- at the helm of the ailing carrier.
- NZPA
Toomey rejects claims of golden handshake
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