Airline settles retail sale

The sale of the Jetset subsidiary to listed Australian company Heartlink was announced in March when the airline said the final price would be between A$6 million and A$7 million.

Air NZ says the transaction signifies its withdrawal from retail travel ownership in Australia as part of a new strategy to focus on core air transport operations.

Sales and distribution executive, Norm Thompson, says that as part of the sale deal the airline has entered into a long-term commercial agreement with Heartlink.

"Air New Zealand has entered into a long term preferred partner agreement with Jetset and will work hard to ensure a strong and productive partnership between the two companies."

Earlier this year Air NZ also divested it Jetset business operation to another Australian company, Synergi Travel.

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