Etihad Airways has been given a green light by the Federal government to boost its equity stake in Virgin Australia Holdings from the current 4.99% to a maximum 10%, after winning approval to lift its level of investment in the Australian carrier from the Foreign Investment Review Board.
The increase builds on the success of Etihad’s multi-tiered partnership with Virgin Australia, which includes codesharing, joint marketing initiatives and reciprocal earn-&-burn frequent flier programs.
The Abu Dhabi-based carrier reiterated that the strategic partnership with Virgin Australia has already achieved “significant revenues” to each airline, and that the stake increase would “lead to further revenue generating opportunities.”
“Etihad Airways is very proud to have been, and continues to be, a good friend to Australia. At the same time, Australia has been a great success for Etihad Airways,” the carrier said in a statement this afternoon.