Virgin Blue’s Godfrey doubts rumours
An AAP report says that Virgin Blue chief executive Brett Godfrey says he doubts Air New Zealand would snap up a majority stake in the low cost Australian carrier if Toll Holdings Ltd were to offload its 65 per cent shareholding.
The speculation arose after Toll, which inherited a controlling interest in Virgin Blue when it took over stevedore Patrick in 2006, said last month it would make a decision about that stake by the end of the year.
Air New Zealand this month moved to quash rumours it would be interested in buying the stake, worth about $A1.5 ($NZ1.8) billion.
Mr Godfrey said he would be very surprised if the speculation involving the trans-Tasman carrier turned out to be true.
“I don’t believe that for a minute, I just don’t believe it,” Mr Godfrey told reporters at the company’s annual general meeting in Brisbane today.
“I just can’t see the government of New Zealand acquiring an Australian airline……….but funnier things have happened.”
He said the board would be comfortable with whatever decision Toll Holdings made.
“I think what we can say is that the business of Virgin Blue has a very detailed strategic direction attached to it,” he said.
“Shareholders have been very supportive of that strategy and we believe it’s being executed very well.
“Obviously shareholders, major or small, will from time to time review their position – it’s no secret that Toll just said it will do that.”
Report by The Mole
John Alwyn-Jones
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