Air New Zealand yesterday completed its sale of the Jetset Retail travel agency business to Heartlink Limited of Australia for AUD$6.6 million.
The transaction signifies the withdrawal of Air New Zealand from retail travel ownership in Australia, as part of a new strategy by the airline to focus on its core air transport operations.
As part of the Jetset Retail deal, Air New Zealand has entered into a long-term commercial agreement with Heartlink.
Mr Norm Thompson, Air New Zealand`s Senior Vice President, Sales and Distribution, said the acquisition of Jetset Retail by the Heartlink Group not only ensured continuation and growth of the Jetset business, but also a strong ongoing relationship between the airline and the agency.
“A primary requirement for Air New Zealand in this transaction was that the purchaser demonstrate commitment to strengthen and grow the Jetset Retail business,” said Mr Thompson.
“Air New Zealand has entered into a long term preferred partner agreement with Jetset, and will work hard to ensure a strong and productive partnership between the two companies.”
The Jetset business travel operation was purchased recently by SYNERGI Travel Australia.