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FINANCIAL NEWS
10% increase in Etihad airways share in Virgin Australia
07 Jul 2013
(MENAFN) The Emirati carrier Etihad has announced recently that it has upgraded its lawful share in Virgin Australia Holdings to 10% which forms 221 million shares, Arabian business published.
The Abu Dhabi – based airline is in attempt to compete with pioneer carriers like Qatar airways and Emirates hence, it’s been sealing deals and acquiring shares in varied relevant businesses that shall allow Etihad to expand and grow.
Etihad president and CEO James Hogan said: “We are very pleased to have reached this threshold.” Adding “We support the management strategy of Virgin Australia and will continue to work closely with them on ways to improve our business.”
It’s worth mentioning that Etihad seized 3% stake in the Irish no-frills carrier Aer Lingus and in January bought a 40% stake in Air Seychelles.
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