Air NZ plans to raise stake in Virgin Australia to 25.9 percent after gaining approvals

Thu, 03 Oct 2013

By Tina Morrison Oct. 4 (BusinessDesk) – Air New Zealand, the national carrier, plans to raise its stake in Virgin Australia Holdings to 25.9 percent after gaining the necessary approvals, cementing its presence in the Australian market. Air New Zealand received approval from the Australian Treasurer to lift its stake after gaining consent from the Foreign Investment Review Board and the antitrust Australian Competition and Consumer Commission, the Auckland-based airline said in a statement. The New Zealand carrier plans to acquire an additi...

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