Air NZ looking to sell some/all of stake in VA

[HeavyElectricity]

Air NZ sale of Virgin stake to Nanshan completed

Air New Zealand has confirmed the sale of 19.98 per cent of Virgin Australia shares to Chinese conglomerate Nanshan Group.

The sale, first announced on June 10, was completed on Tuesday, the company said in a statement to the Australian Securities Exchange.

Air New Zealand pockets about A$267 million from the transaction, based on the sale price of A$0.33 per share and the 810 million shares sold. The company has poured in an estimated $460 million to accumulate its stake in the Australian carrier over the years, meaning it is selling those shares at a loss.

“As a result of the sale, Air New Zealand’s holding in Virgin Australia is approximately 5.9 per cent,” the company said.

 

[clipped_wings]

Do you think there will be a flow on effect to the (Star Alliance LAX and ANZ Sydney International Lounge) reciprocal arrangement with Virgin Australia? I imagine it would still be in ANZ's best interest not to change the status quo.

 

[jackthomas]

Do you think there will be a flow on effect to the (Star Alliance LAX and ANZ Sydney International Lounge) reciprocal arrangement with Virgin Australia? I imagine it would still be in ANZ's best interest not to change the status quo.

I doubt it. Air NZ need an Australian partner to serve the routes and ports they don't, and I'm sure they aren't about to get in bed with Qantas. Virgin has many partners who don't hold equity.

 

[deva22]

I doubt it. Air NZ need an Australian partner to serve the routes and ports they don't, and I'm sure they aren't about to get in bed with Qantas. Virgin has many partners who don't hold equity.

Is it even within the realms of possibility for a *A member to get in bead with a OW member?

 

[dajop]

Is it even within the realms of possibility for a *A member to get in bead with a OW member?

I know QF used to have relationships with SAS and South African - but no longer. Don't think the oneworld is so strict - QF have codesharing and FF program relationship with MU (Skyteam member), and did have a long relationship with AZ (now terminated, although suspect that has more to do with AZ's membership of the "EY Club" than Skyteam ...)

 

[AviationNZ]

Is it even within the realms of possibility for a *A member to get in bead with a OW member?

Absolutely. One example that comes to mind and relevant to this thread is the Air NZ partnership with Cathay Pacific.

 

[williamsf1]

GM level departures that I know of personally (direct reports to divisional heads).

Most public was the GM of Marketing who has gone to head up marketing at Myer.

And directly beneath GM level they have been culling and not replacing.... Sydney office most affected. Can't say much more because I have dealings with them.

VA has been actively (and successfully) burying the departures. Not literally of course haha but keeping it quiet. Really tough patch atm.

Yea Yea .... i know all about it and a few more announced but not departed yet