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Etihad Buys Stake in Virgin AustraliaJune 5, 2012 By: Newswire
Reuters is reporting Abu Dhabi's Etihad Airways has bought a 4 percent stake in Virgin Australia. This marks Etihad's fourth overseas deal since December, having already bought stakes in three other carriers in what the article calls "a push" to chase the state-backed airlines like Dubai's Emirates and Qatar Airways.
Virgin Australia confirmed that Etihad Airways had bought a 3.6 percent stake (reportedly for $35.6 million via market purchases over the past few weeks) and said Etihad is one of Virgin Australia's strategic alliance partners.
The airline is 26 percent owned by Sir Richard Branson and 20 percent by Air New Zealand.