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FinancialNews


  • 22-08-12

    Etihad ups holding in Virgin Australia to 6.1%

    (MENAFN) Etihad Airways, Abu Dhabi flag carrier, has increased its shareholding in Virgin Australia Holdings Ltd to 6.1 percent, from five percent last in July, Arabian Business reported. The Abu Dhabi-based airline paid USD10.6 million for more than 24,000 additional shares over the past three weeks, according to a filing at the Australian Securities Exchange. Etihad is trying to keep up with larger rivals Qatar Airways and Emirates Airline, through acquisitions, in long-haul market. The recent build up brings Etihad closer to the 10 percent limit approved by Australia's Foreign Investment Review Board. Virgin Atlantic is a joint venture between British billionaire Richard Branson and Air New Zealand. In December last year, Etihad paid USD95 million to increase its stake in airberlin, Europe’s sixth-largest airline, to 29.2 percent from 2.9 percent. In January, it bought a 40 percent stake in Air Seychelles. In May, it acquired a three percent stake in Irish Aer Lingus.

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