Etihad boosts Virgin stake

Abu Dhabi-based airline lifts interest towards its 19.9 per cent limit.

Etihad Airways has lifted its stake in Virgin Australia Holdings (VAH) by at least 1.4%, The Australian Financial Review reports.

According to the newspaper, the Abu Dhabi-based airline bought $14.5 million of Virgin shares for 39.5 cents a share in an on-market purchase executed by Patersons Securities.

Before the purchase, Etihad held a 10.55% stake in Virgin and it has Foreign Investment Review Board approval to lift its stake to 19.9%, the AFR reports.

Virgin last week posted a full-year loss and declined to provide guidance for the year ahead (see article).

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