Asian budget carriers are increasingly using social networks without resorting to print advertising, industry chiefs say.

Air New Zealand shares fell after the company paid A$145 million for a 14.9pc stake in new trans-Tasman partner Virgin Blue.

Air New Zealand is taking its relationship with Virgin Blue up a notch, saying it has become a substantial shareholder in the Australian-based airline.

We need to think more about partially privatising state owned assets, argue Susan Watson and Chye-Ching Huang, from the University of Auckland's Business School.

China's biggest airline says it will now start flying direct from Guangzhou to Auckland, boosting the annual injection to the region's economy from $50m to $75m.