KEY POINTS:
Air New Zealand has bought a cornerstone stake in Australian booking
company V3 and through a joint venture will start a live, online exchange for tourism operators.
The operation, similar to V3 in Australia, will provide tourism operators including hotels, motels and attractions with an opportunity to sell directly through the exchange to distributors including
tourism bodies and travel agencies.
In Australia V3 takes a monthly service fee calculated on monthly sales
figures.
The company started in Perth in 2001 and has for the past two years been
operating the software system Air New Zealand will use in a standalone
company.
Air New Zealand deputy chief executive Norm Thompson said the purchase was part of the airline's strategy to further diversify into the wider
tourism sector. The airline is not disclosing the cost of the acquisition.
Thompson said a New Zealand exchange would help local tourism businesses by providing them with a cost-effective way of increasing their reach to distributors.
"Air New Zealand's commitment to playing a role in the wider tourism
industry was behind its decision to acquire a stake in V3 and establish an exchange in New Zealand," he said.
The airline's fortunes were inextricably linked with those of the tourism sector.
"What's good for tourism in New Zealand and our tourism operators will have natural flow-on benefits for the airline."
Former Air New Zealand general manager Chris Hunter has been appointed chief executive of the business which will have a staff of 22.
