Virgin shares fell by nearly 6% on the news that the airline could lose more than halve its predicted first half year profits due to the floods in Australia.
Air New Zealand acquired a 14.99% stake in Virgin Blue last week at a price of A44c per share, worth A$145 million. The slump in the carrier’s share price however by 5.95 to A40c significantly decreased the value of Air NZ stake.
Related posts
MIDDLE EAST CARRIERS TO BUY STAKE IN MONTENEGRO AIRLINES
By
Dino D'Amore
19th November 2010