Air New Zealand has ruled out a multi-billion dollar merger deal with Virgin Australia, amid mounting speculation that private equity giant Bain Capital could bring the number two carrier and Qantas’ rival back to the ASX boards as soon as next year.
“Air New Zealand confirms that it has not been approached, and is not in discussion with any parties, regarding a potential merger transaction,” the airline’s chair, Dame Therese Walsh, said in the statement. “Air New Zealand remains in compliance with its NZX continous disclosure obligations.” But the airline’s chief executive, Jane Hrdlicka, has said the loss reflected the carrier’s “transition out of a really tough period for the industry into a period that looks pretty bright” and is forecasting a return to profitability this financial year.