Air New Zealand increases Virgin Blue ownership
Air New Zealand announced it has unwound equity swaps in Virgin Blue Holdings and taken ownership of an additional 0.8% of Virgin Blue shares. The transaction returns Air New Zealand's holding in Virgin Blue to 14.99%. Shares in Virgin Blue dropped 6.1% on Wednesday, hitting a seven-month low. Air New Zealand shares were down 1.8%, with the carrier reporting stronger Feb-2011 traffic.
