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Friday, February 24, 2012

Ups & Downs at VA & NZ

In the same week that Virgin Australia saw an impressive 118% interim profit increase, partner Air New Zealand has revealed its first half profit has dropped 61%.

Air New Zealand is blaming its profit drop on the weakness in the global economy as well as the doubling of jet fuel prices over the past three years.

This comes as the Kiwi flag carrier mulls over the options of raising its stake in the Australian operators as Virgin has flagged structural changes which will allow an increase in foreign ownership.

Read more about the Air New Zealand profit fall and resulting job losses

Read more about the Virgin Australia profit increase

And read more about the possible increase in NZs ownership of VA
theaustralian.com.au HERE

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