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Etihad Confirms Stake in Virgin Australia

Etihad Confirms Stake in Virgin Australia

Etihad Airways has confirmed that it has acquired a 4.99% stake in Virgin Australia Holdings. The stake has been built over recent weeks, through purchases on the open market.

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 and will enrich the commercial benefits that the alliance already provides for both airlines, as well as increasing the benefits to Australian consumers and visitors to Australia.

Etihad A330-200

Together, Etihad Airways (21) and Virgin Australia (3) operate 24 flights a week between Abu Dhabi and Australia and passengers have access to a combined network of more than 150 destinations. Last month Etihad Airways leased a Virgin Australia B777-300ER for use on its route between Abu Dhabi and Kuala Lumpur.

Etihad Airways began flying to Australia in March 2007 when it launched services to Sydney, and Melbourne and Brisbane were quickly added. Nearly 2.2 million passengers have been carried between Abu Dhabi and these three cities in the past five years.

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NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

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