PPRuNe Forums - View Single Post - Virgin Blue To Topple The Fox-Lew Bid For Ansett?
Old 18th Nov 2001, 06:36
  #15 (permalink)  
lame
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And now this, Virgin Blue to become True Blue.....

The new Australian Investor/Owner, wouldn't be Lang Corp I suppose...

(QUOTE)

*Talks of an Australian owned Virgin Blue*


Virgin Blue has signalled it may divest its majority stakehold in the
airline, enabling it to become Australian owned.

The move comes two months after Richard Branson tore up a $250 million
takeover cheque from Air New Zealand.

Virgin Blue's rapid ascent to Australia's second carrier and positive
earnings two years ahead of schedule has sparked interest in the
airline's future.

Chief executive Brett Godfrey told Channel Nine the company may take
some profits to invest in overseas ventures.

He says a portion of Virgin Blue could be sold off ahead of a public
float next year.

"We do need some cash for some of these other opportunities and which is
why we are also looking for a cornerstone investor who might bring
something more to the table than just their cash," he said.

Mr Godfrey also says Virgin Blue could be 51 per cent Australian owned
by the end of next year.

"That would give us pretty much immediate access to the Tasman which is
something we've said we want to get to."

But the airline is not ruling out a sell-off before then if a suitable
deal is on offer.