Qantas sold its 4.2% stake in Air New Zealand, which it acquired in early 2002 in association with the proposed Tasman Networks Agreement that was scuttled by regulators (ATWOnline, Nov. 16, 2006). QF said it acquired the shares at NZ$2.23 each and sold them at NZ$2.70. Following the sale, it said it "remained comfortable with its previous guidance that its 2006/07 profit before tax was in line with the average market expectations."

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