Air NZ share split to disappear?

Under current legislation the airline's shares are traded as A and B shares. A shares can only be held by New Zealanders while there is open ownership on the B shares.

The difference in liquidity and demand between the two means that the shares have always traded at a difference in price, with A shares trading at a market discount to the B stock.

However Air New Zealand says it has asked the Government to remove the distinction between the two classes of shares.

The company has also asked that Singapore Airlines be allowed to increase its ownership of the airline to 49% from its current 25% holding.

The airline says it has released the information about its submission in accordance with keeping the market informed although other details have been kept confidential.

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