Etihad Airways Lifts Stake to 13.4%
The shares of Etihad Airways have been lifted again in Virgin Australia Holdings Ltd. The shares were exceeded by Etihad Airways. The Richard Branson's Virgin Group was considered as the third biggest airline group.
Eithad has told investors that the shares have increased. The increase was of 13.4% from its earlier rate of 12.35%. This has helped Eithad to become Virgin Australia's third largest shareholder.
In the dealings that were made previous week, an amount of $11.8 million was paid for 27.4 million Virgin Australia shares. To increase the interest to 19.9%, consent has been given to the Abu Dhabi-based airline by Foreign Investment Review Board. To achieve its objective of 19.9%, Eithad may purchase a portion of Sir Richard's property.
A largest local shareholder in airline is Air New Zealand. It has increased its shares by 22.99% in recent times. Brand agreement with airline was more essential for him as compared to an equity holding. This was told by a businessman who was aiming to sell his remaining shares.
As per the competition regulator, it will not be against Air New Zealand if it increases its shares in Virgin. The increase would be by additional 3% approximately, making it to 26%.
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