Air New Zealand says 'strategic rationale' for Virgin Australia investment unchanged

Air New Zealand CEO Christopher Luxon, speaking on the release of its 1HFY2015 results, said (25-Feb-2015) the carrier is "very comfortable" with its 25.9% stake in Virgin Australia. Mr Luxon added: "Certainly the (Virgin Australia's 1HFY2015 results) loss has been narrowed... The way we have been able to digest that in our first half results has been very very good. The strategic rationale for the investment remains unchanged." Air New Zealand recorded a 6% decline in NPAT, in part due to equity accounting for its share of Virgin Australia's loss. This amounted to approximately NZD14 million (USD10.4 million). [more - original PR]