UAE flag carrier Etihad Airways has just confirmed that it’s acquired a 3.96% stake in Virgin Australia Holdings, with the shareholding built over recent weeks through purchases on the open market.
Etihad said it believes the equity investment in the Virgin Australia domestic operations significantly strengthens the strategic partnership forged by the two carriers in August 2010.
The shareholding “will enrich the commercial benefits which the alliance already provides for both airlines, as well as increasing the benefits to Australian consumers and visitors to Australia,” according to a statement just issued.
The move means that Etihad Airways joins Air New Zealand as a foreign airline equity investor in Virgin Australia.
More information in today’s Travel Daily.