Etihad increases stake in Virgin Australia to 19.9%
Almasalla Travel News – By Ashraf El gedawy -Etihad Airways has confirmed it now owns a 19.9% equity stake in Virgin Australia.
Etihad first bought 3.96% of Virgin Australia in June 2012 and has since been building up its holding. Australia’s Foreign Investment Review Board had already approved Etihad increasing its shareholding to as much as 19.9%.
Etihad “now holds more than 515 million shares in its equity partner airline,” the Abu Dhabi-based airline said in a statement. Etihad and Virgin Australia signed a 10-year strategic partnership agreement in August 2010.
“The strategic partnership continues to deliver significant revenue streams and other benefits to each airline,” Etihad president and CEO James Hogan said. “Increasing our equity in Virgin Australia will further enrich the commercial benefits.”
