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FINANCIAL NEWS
UAE- Etihad Airways buys 3.96% stake in Virgin Australia
05 Jun 2012
(MENAFN) Etihad Airways announced that it bought a 3.96 percent stake in Virgin Australia Holdings through acquisitions on the open market, reported Arabian Business.
The Abu Dhabi-based airline said that in 2010, the two carriers inked a 10-year strategic partnership deal, and the recent acquisition would support and reinforce that joint business.
Etihad, which operates services to Australia’s Sydney, Melbourne and Brisbane, added that since 2007, around 2.2 million passengers have flown between Abu Dhabi and the 3 cities.
It is worth noting that in May, Etihad acquired a 3 percent stake in Aer Lingus, the Ireland-based operator, whereas in December 2011, it boosted its stake in air berlin to around 30 percent from 3 percent in a USD90.80 million deal.
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