Etihad moves to lift Virgin stake

Global airline confirms on-market share buys after winning FIRB tick to lift stake.

Etihad Airways has commenced the off-market buying of Virgin Australia Holdings Ltd shares, after the Foreign Investment Review Board approved its bid to lift its stake to 19.9%, The Australian reports.

According to the newspaper, Etihad's chief executive James Hogan confirmed the group had been buying Virgin shares on-market since the approval.

"We are buying on the market at the moment," Mr Hogan told The Australian.

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