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Etihad Buys Stakes In Virgin Australia

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Etihad Airways, the national airline of the United Arab Emirates, has acquired a 3.96 per cent stake in Virgin Australia Holdings. According to a press statement, the stake has been built over recent weeks, through purchases in the open market.


The press statement reads, “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. It 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 passengers have access to a combined network of more than 150 destinations, says the statement. Etihad Airways began flying to Australia in March 2007 when it launched services to Sydney. Melbourne and Brisbane were quickly added thereafter. Nearly 2.2 million passengers have been carried between Abu Dhabi and these three cities in the last five years.
 

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