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

Abu Dhabi’s Etihad Airways said it raised the equity stake in Virgin Australia to 19.9 percent. (File photo: Reuters)

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.

SHOW MORE
Last Update: Wednesday, 20 May 2020 KSA 09:41 - GMT 06:41
Top