Air New Zealand Announces Sale of Jetset Business Travel

Norm Thompson, Senior Vice President Sales & Distribution, announced today that Air New Zealand has signed a contract to sell Jetset Business Travel, a division of Jetset Travel & Technology Holdings (Jetset), to the shareholders of SYNERGI Travel new Zealand.

"Air New Zealand is pleased to have completed the sale agreement and are confident that SYNERGI Travel New Zealand, as new owner of Jetset Business Travel, will continue to provide excellent support to the Australian business traveller," said Mr Thompson.

"At this time of business recovery for Air New Zealand, Jetset Business Travel was identified as not being core to the airline's operations. However, Air New Zealand will maintain and further develop its strong business relationship with SYNERGI," he said.

SYNERGI will operate Jetset Business Travel as SYNERGI Travel Australia according to Managing Director, Ross Irving.

"SYNERGI Travel NZ has enjoyed a productive relationship with Air New Zealand and the acqusition of Jetset Business Travel provides us with a valuable opportunity to extend into the Australian market," said Mr Irving.

Jetset Business Travel is one of the operating divisions of Jetset , a wholly owned subsidiary of Air New Zealand. Air Zealand's divestment of Jetset's retail division is in progress.

SYNERGI Travel New Zealand is the New Zealand member of SYNERGI Global Travel Management, a powerful joint venture enterprise of travel management companies. SYNERGI comprises more than 53 travel management companies with annual turnover of more than US$ 12 billion and more than 3,000 offices and 12,000 employees worldwide.