Etihad Airways confirms 3.
96 percent stake in Virgin
Etihad Airways has confirmed that it has acquired a 3.96 percent stake in Virgin Australia Holdings, with its stake being built up through several purchases on the open market.
The UAE flag carrier believes the equity investment in Virgin Australias domestic operations will fortify the ten year partnership forged by the two carriers in August 2010.
According to the airline the shareholding will enrich the commercial benefits which the alliance already provides for both airlines, as well as increasing the benefits to Australian consumers and visitors to Australia.
Together, Etihad Airways and Virgin Australia operate 24 flights a week between Abu Dhabi and Australia and combined provide their passengers access to a network of over 150 destinations.
Etihad Airways has been flying to Australia since March 2007 when it launched its services to Sydney, Melbourne and Brisbane followed shortly after.
In the last three years almost 2.2 million passengers have been carried between Abu Dhabi and these three Australian cities.
Virgin Australia has recently reported that its domestic passenger numbers for the month of April 2012 increased by 7.9 percent over the previous year with a revenue load factor of 77.1 percent.
Source = e-Travel Blackboard: S.P