No deal yet, says Air NZ

Air New Zealand announced yesterday that it has not reached a deal with Qantas, quelling talk that such a deal had prompted a trading halt in Qantas shares.

Qantas requested an immediate three-day trading halt of its shares on the Australian Stock Exchange yesterday, following speculation surrounding its annual results, which are to be announced today.

Air New Zealand said in a statement that although discussions with Qantas were ongoing, no relevant commitment had been reached.

"Air New Zealand also advises that ... it does not expect to conclude any significant strategic agreements in the next few weeks.

"On this basis, Air New Zealand has not requested either the ASX or the New Zealand Stock Exchange to impose a trading halt or suspend quotation of the company's shares," Air NZ said.

Yesterday's Australian reported that Qantas would announce a capital raising of up to A$1 billion ($1.17 billion) when it reports its full-year profit today.

- NZPA