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Abu Dhabi’s Etihad raises stake in Virgin Australia to 19.9%

Published: Updated:

Abu Dhabi’s Etihad Airways said on Thursday that it raised its equity stake in Virgin Australia to 19.9 percent, reaching a threshold set by Australian regulators.

The Gulf carrier raised its stake from 10.5 percent through a series of market purchases of Virgin Australia shares over recent weeks, it said in a statement.

The Abu Dhabi-based airline now holds more than 515 million shares in the Australian carrier.

Etihad, which previously held just a five percent stake in Virgin Australia, had more than doubled its stake in September last year and had expressed plans to buy more shares.