Middle Eastern airline Etihad Airways has increased its interest in its strategic alliance partner, Virgin Australia Holdings Limited
(ASX:VAH).
Etihad’s stake in Virgin has now grown to 10 per cent from 6.1 per cent, weeks after receiving the go ahead from the federal regulator.
The United Arab Emirates national airline, is understood to have acquired over 200 million shares.
Both airlines who codeshare and have joint marketing initiatives, operate 24 flights per week between Australia and Abu Dhabi.
Rival Qantas is reportedly also leaning towards a codeshare agreement with the Dubai based Emirates airline.
Virgin Australia reported a net profit of $22.8 million in the 2012 financial year.
