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In July 2008 Toll sold its majority holding via a special dividend to hold 1.7% of the company.In June 2013 Air New Zealand owned 23% of the company.Since then Virgin Blue has also announced an agreement with Vietnam Airlines which allows passengers to fly from Melbourne and Sydney and connect with Vietnam Airlines's destinations through its flight network.
Air New Zealand chief executive Rob Fyfe described the investment "as part of Air New Zealand's strategy to develop scale and reach in this region" but said the airline had no intention of making a full takeover.
New seating was installed in the first three rows of the cabin.
These could be converted from three seats in economy configuration to two seats for premium economy.
The premium product offered priority check-in, larger baggage allowance, lounge access, priority boarding, increased legroom and all-inclusive in flight entertainment, meals and beverages on board.
The product was aimed at business and corporate customers.
This strategy changed with the introduction of a second type into the fleet.