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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.

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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.

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2 Comments

  • 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).

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