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%.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles