Virgin Australia's biggest shareholder Air NZ says it may sell stake

March 30, 2016 1:54 AM

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Virgin Australia's biggest shareholder Air NZ says it may sell stake

SYDNEY Air New Zealand Ltd (AIR.NZ), the biggest shareholder in Australia's No. 2 carrier Virgin Australia Holdings Ltd (VAH.AX) said on Wednesday it is considering selling its 25.9 percent holding.

Air New Zealand said it has hired investment banks First NZ Capital and Credit Suisse to advise on its options, including a possible sale of all or part of its stake. It added that its CEO Christopher Luxon, will resign from Virgin Australia's board, effective immediately.

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