ACCC suspends review of Air NZ Virgin play

Watchdog delays decision date on ariline's bid to lift Virgin stake to up to 26%.

Air New Zealand's bid to increase its stake in Virgin Australia Holdings Ltd to 26% has hit an early roadblock, with the consumer watchdog delaying its review of the move pending more information from the local airline. 

The Australian Competition and Consumer Commission was due to make a decision on the move, or release a statement of issues, on August 1 and is yet to announce a revised date. 

Air NZ owns 19.99% of Virgin Australia and has proposed to hike its stake by as much as 6%. 

The ACCC started the review on June 6. 

In June, Etihad Airways received the Foreign Investment Review Board’s stamp of approval to increase its Virgin Australia share to 19.9%.