Air NZ's stake in Virgin could be easier to sell after Chinese airline buys stake

Sophie Boot
Tue, 31 May 2016

By Sophie Boot May 31 (BusinessDesk) - Air New Zealand’s proposed sale of its 25.99 percent stake in Virgin Australia could be aided by a Chinese airline operator's new stake in Virgin. Virgin Australia today announced a deal worth A$159 million with HNA Aviation Group, which is the largest private operator of airlines in China, with a placement of new shares to subsidiary HNA Innovation giving HNA a 13 percent stake in Virgin. The shares were issued at 30 Australian cents each, a 7.1 percent premium on yesterday's closing price. HNA a...

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