Air NZ share jump on share buyback announcement

Fri, 28 Sep 2012

Sept 28 (BusinessDesk) - Air New Zealand says its share price doesn't reflect the strength of the national carrier's financial performance and is to commence a share buyback scheme as a consequence, chairman John Palmer announced at the company's annual meeting in Auckland. Air NZ shares were up 6.4 percent mid-afternoon to 70 cents as it targets on-market purchases of up to 3 percent of the issued stock, valuing the purchase of 33 million shares at approximately $23.1 million. Reaffirming the outlook statement made a month ago at the annual...

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