Etihad Airways, Abu Dhabi's flagship carrier which is on an expansion spree, said it has acquired a 4 percent stake in Virgin Australia Holdings (VAH.AX) through the stock market, deepening its alliance with the Australian airline.
The stake has been bought through market purchases in recent weeks, Etihad said in a statement on Tuesday. The airline did not say how much it paid for the stake and whether it plans to increase the stake in future.
"Etihad Airways believes that this equity investment in Virgin Australia's domestic operations significantly strengthens the 10-year strategic partnership forged by the two carriers in August 2010," the statement said.
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