Air New Zealand may ditch Virgin Australia shareholding

Air New Zealand currently owns 25.9 per cent of Virgin Australia.
Air New Zealand currently owns 25.9 per cent of Virgin Australia. Trevor Veale

VIRGIN Australia may soon lose its biggest shareholder, with Air New Zealand looking to sell its stake in the airline.

New Zealand's flag carrier currently owns just over a quarter of Virgin Australia, but has today revealed it is looking at selling some or all of that stake.

Air New Zealand is employing First NZ Capital and Credit Suisse to advise it on options with respect to its Virgin stake.

However, the airline looks determined to at least substantially reduce its holding, with its chairman Tony Carter indicating to his Virgin Australia counterpart Elizabeth Bryan that his company does not want a large minority equity position.

Instead, Air New Zealand wants to focus on its own growth opportunities, and plans to unlock the cash tied up in its Virgin Australia shareholding for other uses.


Topics:  airlines air new zealand aviation business virgin australia

Environment groups walk away from NSW forestry negotiations

LOGGING LOGGERHEAD: Peace between environment groups and the NSW Government is threatened.

Agreements between government and environmentalists threatened

Regions declared big winners in SCU funding deal

ALL SMILES: Professor Shoemaker is thrilled by the deal struck with the Federal Government.

Funding deal puts Allied Health campus in Coffs back on track

Swimmer missing at Valla while others rescued along Coast

An IRB is searching the waters at Valla Beach for a missing swimmer.

Search for missing man caught in Valla rip will start again at 6am.

Local Partners