Air New Zealand (ANZ) chief executive Rob Fyfe says he is adopting a "wait-and-see" approach to the recent announcement of a potential low-cost entrant in the domestic market. Proposed start-up Kiwijet in late April unveiled plans to launch services in December using two Boeing 737-300s. Fronted and backed by Patrick Weil, a Florida-based aviation consultant who worked with easyJet during its start-up phase in 1995, and three other investors, Kiwijet plans to fly its 737s in a 140-seat configuration with a single fare structure, open seating and free on-board beverages. Kiwijet has expressed interest in buying JetConnect, the Qantas unit that flies within New Zealand, but says it will apply for its own operators certificate if needed. "I take any potential competitive threat very seriously [but] there are a hell of a lot of what-ifs at the moment", Fyfe says. "As it is described it is only a couple of aircraft on existing routes with frequencies below ours and at prices that are above our lowest fares.