Etihad doubles Virgin stake

BOSSES at Etihad have been given the all clear to double their share of Virgin Australia Holdings.
Etihad already holds a 4.99 per cent stake and has successfully applied to the Foreign Investment Review Board (FIRB) to raise the level of its investment to 10 per cent.
Founded in 2003 the Middle East carrier paid US$35.6m for its near five per cent share in June.
The two airlines have grown closer over the past months including running joint marketing initiatives together.
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