Etihad Airways and Virgin Australia

Virgin Australia is now owned 22.9% by Abu Dhabi’s Etihad Airways, the maximum allowed by the Foreign Investment Review Board.  The move cost the Abu Dhabi based carrier AU$28.34m last week.  Other significant shareholders include Air New Zealand 26%, Singapore Airlines 23% and Virgin Group 10%.####

Just prior to completing the transaction, James Hogan, Chief Executive of Etihad, was elected to the Virgin board.

Hogan told Virgin investors that Etihad was not only a shareholder but also a “long-term and active investor” in Virgin Australia.

Etihad earlier this month received approval for its 49% stake in ailing Italian carrier Alitalia and has made major investments in Air Berlin, Aer Lingus, Air Seychelles, Air Serbia and Jet Airways of India.

Just before Christmas Etihad is due to unveil the first of its new fleet of Airbus A380 and Boeing 787 Dreamliner aircraft.  www.etihad.com   www.virginaustralia.com

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