SHARES IN VIRGIN BLUE FALL ON NEWS OF PROFITS WARNING

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By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:51

SHARES IN VIRGIN BLUE FALL ON NEWS OF PROFITS WARNING

Virgin shares fell by nearly 6% on the news that the airline could lose more than halve its predicted first half year profits due to the floods in Australia.

Air New Zealand acquired a 14.99% stake in Virgin Blue last week at a price of A44c per share, worth A$145 million. The slump in the carrier’s share price however by 5.95 to A40c significantly decreased the value of Air NZ stake.

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By TESTCustomwebLP TESTCustomwebLP January 26, 2011 15:51
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