22-Feb-2011 8:06 AM

Air New Zealand confirms Virgin Blue ownership plans

Air New Zealand confirmed (21-Feb-2011) it has been advised by Virgin Blue that the Australian airline's current foreign ownership level is 49.78%, more than the 49% allowed under Australian law. Air New Zealand, which has a 14.99% stake in the airline, plans to hold 0.8% of its interest in Virgin Blue through equity swaps, which provide no ownership rights but provide price protection for purchase at a later date. When the level of holding by other foreign shareholders reduces sufficiently, Air New Zealand will will convert the remaining swaps into a direct shareholding. [more]

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More