Powered by MOMENTUM MEDIA
australian aviation logo

Etihad lifts Virgin stake to 22.9 per cent

written by australianaviation.com.au | November 25, 2014

At Etihad A340-600 at Sydney Airport.
An Etihad A340-600 at Sydney Airport.

Etihad Airways has confirmed the airline has increased its stake in Virgin Australia to the maximum allowed 22.9 per cent.

Representatives of the Abu Dhabi-based carrier and Virgin alliance partner released a statement to the Australian stock exchange on Tuesday afternoon outlining the purchase of 60.56 million shares for 43.5 cents per share.

The A$28.34 million transaction, made on November 21 and reported in The Australian Financial Review over the weekend, lifted Etihad’s stake in Virgin to 22.9 per cent – the limit set by Australia’s Foreign Investment Review Board – from 21.24 per cent previously.

Etihad chief executive James Hogan was elected to the Virgin board at the Australian-based carrier’s annual general meeting on November 19.

Hogan told shareholders via a pre-recorded video message Etihad was not just a shareholder in Virgin but also a “long-term and active investor”.

==
==

“We are committed to playing an active role in supporting Virgin Australia, which is both a quality provider of safe air travel and a robust participant in the Australian market,” Hogan said.

Virgin’s three other major shareholders comprise Singapore Airlines, Air New Zealand and the Virgin Group.

You need to be a member to post comments. Become a member today!

Comments (2)

  • James

    says:

    “Virgin’s three other major shareholders comprise Singapore Airlines, Delta Air Lines and the Virgin Group.”

    Fact Check – Delta has no major investment in VA, however it does in VS. Air NZ would be the other Major shareholder of VA 😉

    • australianaviation.com.au

      says:

      Thanks James, you are right, that should be Air New Zealand (now fixed).

Comments are closed.

You don't have credit card details available. You will be redirected to update payment method page. Click OK to continue.