6 Sep 2013

Air NZ to lift stake in Virgin

5:46 am on 6 September 2013

The Australian competition regulator has given the green light to Air New Zealand's plan to lift its stake in Australia's second biggest airline.

The Australian Competition & Consumer Commission says it will not oppose the airline's purchase of an additional 6% of Virgin Australia.

That would lift its stake in Virgin to 25.99%.

Earlier this week, the commission agreed to extend its approval for the airline's trans-Tasman alliance for another five years.