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Thursday, 07 June 2012 09:28

Etihad further builds stake in Virgin Australia

Etihad Airways ups stake in Virgin Australia Holdings to 4.99%

Etihad Airways has upped its stake in Virgin Australia Holdings to 4.99%, in the same week it announced plans to increase its interest in Australia’s second biggest airline. It aims to build the stake to at least 10%.
“Etihad Airways […] remains interested in building a larger stake over time, but will only do so after receiving the necessary regulatory approvals,” a new Etihad statement reads.
As reported, Etihad Airways initially confirmed on Tuesday that it had bought a 3.96% stake in Virgin Australia. The United Arab Emirates’ national airline has raised it steadily over recent weeks through purchases on the open market. Between them, Etihad Airways and Virgin Australia operate 24 flights a week between Abu Dhabi and Australia (Etihad with 21, Virgin with three).
Reuters

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