Commenting on media speculation, Air New Zealand advises it has not purchased any shares in Virgin Blue.
Any such purchase would require FIRB approval in accordance with the Australian Government Policy on foreign investment due to the substantial ownership of Air New Zealand by the New Zealand Government.
Air New Zealand is conscious that airline alliances such as the one planned with Virgin Blue frequently include an equity aspect, but the proposed alliance does not do so. The necessary regulatory approvals for the trans-Tasman alliance are still in process and Air New Zealand has had no indication of the outcome of this decision. A final decision on the alliance is expected by the end of the year.
As a listed company on ASX and NZX, Air New Zealand is conscious of its market disclosure obligations and in the event of any such investment would advise the market in accordance with those obligations. Air New Zealand will make no further comment in regard to this speculation.
Ends
Issued by Air New Zealand Public Affairs ph +64 9 336 2761
NOTE: The content of all Air New Zealand media releases are accurate at the time of issue, as stated at the top of each release. For updates on any changes, please contact Air New Zealand. Air New Zealand is proud to be a member of Star Alliance. The Star Alliance network was established in 1997 as the first truly global airline alliance to offer worldwide reach, recognition and seamless service to the international traveller. Its acceptance by the market has been recognised by numerous awards, including the Air Transport World Market Leadership Award, Best Airline Alliance by both Business Traveller Magazine and Skytrax. The member airlines are: Adria Airways, Aegean Airlines, Air Canada, Air China, Air New Zealand, ANA, Asiana Airlines, Austrian, Blue1, bmi, Brussels Airlines, Continental Airlines, Croatia Airlines, EGYPTAIR, LOT Polish Airlines, Lufthansa, Scandinavian Airlines, Shanghai Airlines, Singapore Airlines, South African Airways, Spanair, SWISS, TAM Airlines, TAP Portugal, Turkish Airlines, THAI, United and US Airways. Air India has been announced as a future member. Overall, the Star Alliance network offers over 21,200 daily flights to 1,172 airports in 181 countries. For more information about Air New Zealand visit www.airnewzealand.com and for more information about Star Alliance visit www.staralliance.com.
