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30-Mar-2016 1:05 PM

Air New Zealand reviewing holding in Virgin Australia including possible part or full sale

Air New Zealand advised (30-Mar-2016) it is exploring options with respect to its shareholding in Virgin Australia, including a possible sale of all or part of its shareholding in the carrier. As a result, Air New Zealand CEO Christopher Luxon has resigned from the board of Virgin Australia with immediate effect. Air New Zealand chairman Tony Carter said the carrier "does not want a large minority equity position in Virgin Australia as it focuses on its own growth opportunities." Air New Zealand has retained First NZ Capital and Credit Suisse to advise on options. Air New Zealand holds 25.99% of Virgin Australia. [more - original PR]

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