AIR NZ
(ASX:AIZ) has the all-clear from the consumer watchdog to acquire an extra six per cent stake in Virgin Australia Holdings Limited
(ASX:VAH).
The Australian Competition and Consumer Commission says it will not oppose the proposed acquisition as it would not be likely to result in a substantial lessening of competition.
The ACCC this week granted conditional authorisation for the two airlines to continue their trans-Tasman alliance.
It says Air New Zeland won’t have the ability to control or materially influence Virgin as a result of the share purchase.
Virgin booked a net loss of $98.1 million in fiscal 2013.
