Virgin Australia may be on track to announce a $50 million first half loss, but the parlous state of Australia’s airline system has not discouraged Etihad Airways from seeking to increase its stake in Virgin Australia Holdings.
“Etihad Airways, the national airline of the United Arab Emirates, has applied for regulatory approval to increase its stake in Virgin Australia from 19.9 per cent to 22.9 per cent,” Etihad announced in a statement released Tuesday evening.
“Under investment “creep provisions” of the Corporations Act, Etihad Airways can increase its shareholding in Virgin Australia by up to three per cent every six months, subject to approval of Australia’s Foreign Investment Review Board (FIRB). Etihad Airways has lodged an application with the FIRB.”
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