Air New Zealand CEO of Virgin Australia's Aid to Earn Profit

Chief Executive Officer Christopher Luxon Air New Zealand will go into the board of directors airline Virgin Australia from next month. In an interview with Gulf News, Luxon said that profit for Virgin Australia will be a priority.Virgin Australia announced a loss of A $ 83.7 as well during the last six months of last year until December 31, 2013. Airline that became the closest competitor Qantas Airways posted a profit in the last financial year 2011/2012. Financial year in Australia alone runs from July 1 to June 30.Air New Zealand holds a 24.5 percent stake in Virgin Australia. Luxon will join the board of directors along with Virgin Australia Chief Executive Officer James Hogan Etihad Airways and Singapore Airlines representatives of the yet to be announced. Etihad has a 21.2 percent stake, while Singapore Airlines holds a 22.2 percent stake in Virgin Australia."Virgin Australia has been through a fantastic period. They have very well led by John Borghetti (Virgin Australia Chief Executive Officer) along with timinya, and John does the job really exceptional to make sure there is a real choice and real competition that exist in the Australian aviation market, "said Luxon, while adding that now is the right time to make changes to Virgin Australia return to benefit as desired by the shareholders.Three airline Virgin Australia now control the actual stock could again increase the number of shares after getting approval from the foreign investment review board (FIRB) of Australia. Etihad and Singapore Airlines could both increase its stake to 22.9 percent, while Air New Zealand could increase to 25.9 percent. However, Luxon said that Air New Zealand is still comfortable with the composition of the current stock.