Air NZ may sell Virgin Aus stake

Air NZ may sell Virgin Aus stake

Air New Zealand is considering selling all or part of its stake in Virgin Australia.

Air New Zealand said that Virgin Australia had undertaken a successful transformation programme over the past five years that has seen it evolve from a low cost carrier to a diversified airline group.

Air New Zealand has retained First NZ Capital and Credit Suisse to advise it on options with respect to its shareholding.

But chief executive Christopher Luxon says it doesn't mean the end to the airline's alliance with Virgin. .

"We look forward to continuing our partnership on the Tasman alliance, providing customers of both airlines with the most comprehensive trans-Tasman network," Mr Luxon says.

As a result of this announcement, Mr Luxon will resign from the board of Virgin Australia, effective immediately.

Newshub.

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