Air NZ CEO joins Virgin Australia's board

JENNY WIGGINS
Last updated 10:18 21/01/2014

Relevant offers

Industries

The slow demise or temporary slump of New Zealand's oil and gas industry Retirement village investment in its infancy but demand's set to grow Government wants Free Trade Agreements to cover 90 per cent of exports David Walsh named new chief executive of NZ Post Construction of cellphone tower on footpath sparks controversy Vodafone and Spark in takeover tussle over TeamTalk How Toyota poured 500 years of work into its new campus - during a labour shortage Chart of the day: How many Northland students are at or above National Standards? Oil and gas industry says plenty of water under bridge before oil drills hit Lake Te Anau Wellington Airport claims runway may need to be extended for existing operations

Air New Zealand chief executive ­Christopher Luxon will join his Etihad Airways counterpart, James Hogan, and take a seat on Virgin Australia's board, allowing them to exert more control over the airline.

The appointment will raise the stakes in the battle for the domestic market against Qantas Airways, which has bitterly complained about Virgin's deep-pocketed foreign owners.

Tougher competition from Virgin has hurt Qantas's profitability.

Virgin invited representatives from Air New Zealand, Singapore Airlines and Etihad Airways onto its board following its A$350 million ($373 million) capital raising last month.

The raising boosted the three airlines' stakes in Virgin to 67 per cent from 63 per cent.

Luxon will take up the seat "once the appropriate protocols are put in place", a ­spokesman said.

Ad Feedback

- AFR

Comments

Special offers

Featured Promotions

Sponsored Content