Etihad Airways Increases Stake In Virgin Australia

Abu Dhabi’s Etihad Airways has raised its stake in Virgin Australia, with the voting powers of the UAE carrier increasing to 21.24 per cent from 19.9 per cent.

Regulatory approval has been pending for Etihad to increase the holding following the refusal of retail investors to subscribe to an offer of new shares last year.

The two airlines signed a 10-year partnership agreement in August 2010 which encompasses revenue sharing, codesharing on flights and joint marketing and sales strategies.

Etihad and Virgin Australia will increase flights from 28 to 35 times a week from Australia to Abu Dhabi in July when Etihad launches a daily Perth service. The flights connect to more than 15 codeshare destination in Europe plus desitantion in the Middle East and Africa.

As well as Virgin Australia, Etihad also has stakes in airlines including Jet Airways, airberlin, Air Seychelles and Aer Lingus. Last year it rebranded Darwin Airline as Etihad Regional, taking a 33.3 per cent stake.