AirNZ eyes bigger Virgin Australian stake

Saturday, 06 Jun, 2013 0

Air New Zealand hopes to acquire a further 3% of the shares of Virgin Australia, taking its interest to 22.99%.

The agreement is subject to Foreign Investment Review Board (FIRB) and Australian Competition and Consumer Commission (ACCC) conditions.

The FIRB is seeking the views of the ACCC, which has advised Air New Zealand that it intends to conduct public enquiries to enable it to form a view in relation to these potential shareholdings.

Air New Zealand said the additional interest affirms its strong belief and confidence in Virgin Australia and the strategy it is pursuing under the leadership of John Borghetti and his team.

Air New Zealand said is not seeking a position on the Board of Virgin Australia nor does it have the intention of obtaining control of Virgin Australia.

In separate announcements, Virgin Australia will increase direct services between Perth and the Pilbara town of Karratha in Western Australia as a result of strong demand from the mining and resources industry.

And from October this year, Virgin will operate its Airbus A330 service on all Perth-Sydney weekday flights.



 

profileimage

Ian Jarrett



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...