iscover
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.
This content is available exclusively to Australian Aviation members.
A monthly membership is only $5.99 or save with our annual plans.
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
- Unlimited access to all Australian Aviation digital content
- Access to the Australian Aviation app
- Australian Aviation quarterly print & digital magazines
- Access to In Focus reports every month on our website
- Access to our Behind the Lens photo galleries and other exclusive content
- Daily news updates via our email bulletin
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.
Want to see more stories from trusted news sources?
Make Australian Aviation a preferred news source on Google.
Click here to add Australian Aviation as a preferred news source.
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).