Australian regulator won’t stop Air NZ from lifting Virgin stake

Thu, 05 Sep 2013

Sept. 5 (BusinessDesk) - The Australian Competition and Consumer Commission won’t stop national carrier Air New Zealand from lifting its stake in Virgin Australia, two days after extending their airlines’ trans-Tasman alliance. The Australian antitrust regulator said it won’t oppose Air NZ’s proposal to lift its investment in Virgin to as much as 26 percent, the ACCC said in a statement. The New Zealand airline spent A$72 million to increase its Virgin stake to 23 percent in June in a series of off-market transactions, and said it might cree...

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