News

Etihad Cleared to Buy More of Virgin Australia

Etihad Cleared to Buy More of Virgin Australia

Etihad Airways has welcomed the decision by the Australian Government to allow the airline to increase its equity stake in Virgin Australia Holdings to a maximum of 10%. Etihad Airways currently has a 4.99% stake in Virgin Australia, acquired earlier this year, and had applied to the Foreign Investment Review Board to raise the level of its investment.

The purchase was made following the development of a multi-tiered partnership between the two airlines that includes code-sharing on flights, joint marketing initiatives and reciprocal earn-and-burn on their respective frequent flier programmes.

Etihad Airways Logo

Together, Etihad Airways and Virgin Australia currently operate 24 flights per week between Australia and Abu Dhabi, offering Australian travellers and visitors to Australia greater choice and access to a combined network of more than 285 global destinations.

The strategic partnership has already delivered significant revenues to each airline. It is expected that the equity stake in Virgin Australia will lead to further revenue-generating opportunities.

The first Etihad Airways flights from Sydney to Abu Dhabi took place in March 2007 and since then it has started flights from Brisbane and Melbourne, with plans for services from Perth in future. In total, nearly two million passengers have flown with Etihad Airways between Australia and its Abu Dhabi hub.

Click to add a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

NEIL STEEDMAN has been a trade journalist, copywriter, editor and proofreader for 52 years, and News & Features Editor for ‘Irish Travel Trade News’ for the past 42 years.

More in News

Amadeus Prepares for Take-Off with Live Travel Space

Ian BloomfieldMay 21, 2019

Air Canada to Purchase Air Transat

Michael FloodMay 21, 2019

Royal Caribbean Unveils Unprecedented Entertainment Lineup on Spectrum

Neil SteedmanMay 21, 2019

Cork Airport Hotel Selects Breakthrough Cancer Research as Charity Partner

Michael FloodMay 21, 2019

Ethiopian Airlines Gets Fifth Freedom Rights for Dublin-Madrid

Michael FloodMay 21, 2019

Hotel Hendricks to Open in New York City

Michael FloodMay 21, 2019

ITTN Highlights Malta, New Destinations and Cruising in May Issue

Neil SteedmanMay 16, 2019

ITTN’s Great Value Travel Deals – 16th May 2019

Neil SteedmanMay 16, 2019

Iconic Red Routemaster Bus to Feature at WTM London 2019

Neil SteedmanMay 16, 2019