ACCC clears Virgin Blue's partnership plans

ACCC clears Virgin Blue's partnership plans

The ACCC has cleared airliner Virgin Blue (ASX:VBA) to pursue its planned commercial partnerships with Air New Zealand and Etihad.

The ACCC has revealed it considers that Virgin Blue's planned Etihad alliance will promote competition and benefit Australian consumers.

While it said it still had some reservations about the effects of the Air New Zealand tie-up, it has imposed a number of conditions on the deal it feels will help address the competition concerns.

Virgin Blue welcomed the announcement, and said it is now free to establish an international hub in Abu Dhabi with Etihad, and provide joint cut-price fares for cross-Tasman flights with Air New Zealand.

VBA shares climbed 5.88% to $0.450 in Thursday's trading following the announcements.

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Tags virgin blueacccAir New ZealandASX:VBAEtihad

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