Air NZ to wear loss on Virgin sale
Air NZ looks set to take a A$117m (US$89.83m) bath on its investment in Virgin Australia if it sells out of the airline. Air NZ flagged its intention to sell the stake this week following concerns about Virgin's long-term balance sheet viability. Air NZ's review of its stake in Virgin came shortly after it, and fellow minority shareholders SIA and Etihad Airways, stumped up a $425m loan to Virgin. Air NZ's share of the 12-month emergency line of finance is $131.2m. The flagged sale by Air NZ sparked speculation the local aviation industry could be ripe for a shake-up, with many expecting that Virgin's other minority shareholders could look to make a tilt for the financially struggling Virgin. Air NZ's stake was worth $328m at the close of trade Thursday. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-04-01/star/air-nz-to-wear-loss-on-virgin-sale
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Air NZ to wear loss on Virgin sale
Air NZ looks set to take a A$117m (US$89.83m) bath on its investment in Virgin Australia if it sells out of the airline. Air NZ flagged its intention to sell the stake this week following concerns about Virgin's long-term balance sheet viability. Air NZ's review of its stake in Virgin came shortly after it, and fellow minority shareholders SIA and Etihad Airways, stumped up a $425m loan to Virgin. Air NZ's share of the 12-month emergency line of finance is $131.2m. The flagged sale by Air NZ sparked speculation the local aviation industry could be ripe for a shake-up, with many expecting that Virgin's other minority shareholders could look to make a tilt for the financially struggling Virgin. Air NZ's stake was worth $328m at the close of trade Thursday. <br/>
