Etihad Airways has welcomed the decision by the Australian Government to allow the airline to increase its equity stake in Virgin Australia Holdings to a maximum of 10 per cent.
Etihad Airways currently has a 4.99 per cent stake in Virgin Australia, acquired earlier this year, and had applied to the Foreign Investment Review Board (FIRB) to raise the level of its investment.
The purchase was made following the development of a highly successful multi-tiered partnership between the two airlines that includes code-sharing on flights, joint marketing initiatives and reciprocal earn-and-burn on their respective frequent flier programs.
Together, Etihad Airways and Virgin Australia currently operate 24 flights per week between Australia and Abu Dhabi offering Australian travellers and visitors to Australia greater choice and access to a combined network of more than 285 global destinations.
The partnership has already seen a rise in revenue for both the airlines.
Etihad Airways, the national airline of the United Arab Emirates, began operations in 2003, and in 2011 carried 8.3 million passengers. From its hub at Abu Dhabi International Airport, Etihad Airways serves 85 passenger and cargo destinations in the Middle East, Africa, Europe, Asia, Australia and North America, with a fleet of 67 Airbus and Boeing aircraft, and 100 aircraft on order, including 10 Airbus A380s, the world’s largest passenger aircraft.
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