Air NZ to take up Virgin rights for stake of up to 25.5 percent

Wed, 13 Nov 2013

By Tina Morrison Nov 14 (BusinessDesk) – Air New Zealand, the national carrier, will take up its full entitlement in a Virgin Australia Holdings rights issue, at a cost of between A$81 million and A$116 million. The Auckland-based carrier, which has agreed to sub-underwrite the issue together with the Australian airline’s other major shareholders Singapore Airlines and Etihad Airways, said its shareholding in Virgin Australia could rise to 25.5 percent from 22.9 percent should it receive its full entitlement. Virgin Australia, which competes...

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