Air New Zealand acquires ‘substantial’ stake in Virgin Blue. Second step towards fuller alliance
Air New Zealand has taken a vital second step in expanding its relationship with Virgin Blue, acquiring a “substantial” shareholding in the Australian carrier as part of a planned acquisition of between 10% and 14.99%. The New Zealand carrier, which is 49% government owned, however, stated it has “no intention” of making a full takeover offer. The Star Alliance could be further entrenched in the Australian market as a result.