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Etihad Airways seeks regulatory approval to increase stake in Virgin Australia

February 12, 2014 Corporate No Comments Email Email

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.

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.

Virgin Australia is a key member of the Etihad Airways airline equity alliance. The airlines have a comprehensive commercial partnership which includes codesharing on each other’s networks.

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