Etihad Airways to raise stake in Virgin Australia - The National

Etihad Airways to raise stake in Virgin Australia - The National:

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James Hogan, the chief executive of Etihad Airways, left, with John Borghetti, his counterpart at Virgin Blue Holdings, announce the partnership between the two companies in 2010. Sergio Dionisio / Bloomberg News

Etihad Airways is moving to raise its stake in Virgin Australia after getting the green light from regulators to increase its 10 per cent share in Australia's second-biggest carrier.

It signals the importance of the carrier to Etihad in generating traffic between Australasia and Europe through its Abu Dhabi base.

"We applied for and received Foreign Investment Review Board approval to increase our previous stake of 10 per cent in Virgin Australia to 19.9 per cent," Etihad said in a statement. "We may purchase shares to increase our shareholding where it is prudent to do so, and will provide notice in accordance with regulatory disclosure requirements.""

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