Air NZ sells remaining stake in Virgin Australia

Wed, 12 Oct 2016

By Edwin Mitson Oct. 12 (BusinessDesk) - Air New Zealand has sold its remaining stake in Virgin Australia for A$65.7 million. In its monthly update to investors, the company said the sale was an off-market transaction with investors including the Nanshan Group. In June, Air New Zealand sold its 19.98 percent stake in the airline to China's Nanshan Group, which owns Qingdao Airlines. It had said in March that it was considering sell its stake. The Kiwi carrier had spent an estimated A$373 million building up and maintaining the Vi...

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