News: Air New Zealand builds Virgin stake

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Virgin Australia Holdings Limited’s (ASX:VAH) dual listed shareholder Air New Zealand Limited (ASX:AIZ, NZE:AIR) has again boosted its stake in the company. 

 

Air New Zealand now has a 25.99 per cent interest in Australia’s second largest carrier, which is the maximum limit allowed by the Foreign Investment Review Board. 

Singapore Airlines and Etihad Airways hold interests of more than 20 per cent in Virgin Australia while Sir Richard Branson’s Virgin Group has a 10 per cent stake.

Should Air New Zealand wish to increase its shareholding further it will need to apply to Australia’s the Foreign Investment Review Board and competition regulator. 

Virgin Australia Holdings reported a net loss of $83.7 million in the first half of the 2014 financial year.