Air NZ shares move ahead of extension to share buyback scheme

Fri, 27 Sep 2013

Sept. 27 (BusinessDesk) – Shares of Air New Zealand rose 6 cents today to trade at $1.50, ahead of the announcement at the annual general meeting in Auckland that the company is to extend its share buyback scheme for a further year. Air NZ shares closed last night at $1.44, opened at $1.455 and by 11.45am were trading at $1.50. The buyback was announced at the annual meeting, which began at 2pm. The company plans to purchase up to 3 percent or up to $45 million of its shares, whichever is the lower, over the next 12 months and comes as its...

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