Etihad’s share of Virgin Australia creeps up
Etihad Airways has increased its stake in Virgin Australia to 19.9%.
It follows a series of on-market purchases of shares over recent weeks.
At 19.9%, Etihad Airways has reached the threshold approved by Australia’s Foreign Investment Review Board in June 2013.
The two airlines signed a 10-year strategic partnership agreement in August 2010 that includes code-sharing on flights, joint sales and marketing activities, and reciprocal rewards in their frequent flyer programmes.
Etihad also holds equity investments in airberlin, Air Seychelles and Aer Lingus. It will acquire 49% of Air Serbia from January 2014, and, subject to regulatory approval, will buy 24% of India’s Jet Airways.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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