Air New Zealand has announced its acquisition of 14.9% of the shares in Virgin Blue.
Air New Zealand chief executive officer Rob Fyfe said, “The investment in Virgin Blue is part of Air New Zealand’s strategy to develop scale and reach in this region.”
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He added, “The investment provides us with an interest in the number-two airline in Australia and, through this, access to the opportunities in the growing Australian domestic market.”
Air New Zealand completed the purchase, worth A$145m (US$143.4m), using existing cash resources.
