Air New Zealand response to media speculation

Commenting on media speculation, Air New Zealand advises it has not purchased any shares in Virgin Blue. Any such purchase would require FIRB approval in accordance with the Australian Government Policy on foreign investment due to the substantial ownership of Air New Zealand by the New Zealand Government.

Air New Zealand is conscious that airline alliances such as the one planned with Virgin Blue frequently include an equity aspect, but the proposed alliance does not do so. The necessary regulatory approvals for the trans-Tasman alliance are still in process and Air New Zealand has had no indication of the outcome of this decision. A final decision on the alliance is expected by the end of the year.

As a listed company on ASX and NZX, Air New Zealand is conscious of its market disclosure obligations and in the event of any such investment would advise the market in accordance with those obligations. Air New Zealand will make no further comment in regard to this speculation.