Air NZ extends interest in V2500 deal

Air New Zealand is to extend its interest in the Christchurch V2500 jet engine maintenance facility, a joint venture with Pratt & Whitney.

The V2500 project was initiated by the joint venture after Air NZ's selection of the International Aero Engine V2500 to power its new Airbus A320 aircraft.

Air NZ will raise its share to 49 per cent from 10 per cent in a deal worth $10.9 million. Further future investment in the venture was expected to occur as the business developed, it said.