Etihad doubles Virgin Australia stake

stake in Virgin Australia as the Middle East carrier seeks to strengthen its global presence.

The Abu Dhabi airline said it had bought 221 million shares to take its stake in the Australian carrier to 10%.

Etihad plans to further enhance its relationship with Virgin Australia, which includes codeshare flights and joint marketing, to streamline its business.

Chief executive James Hogan said: "Our small equity stake reflects the strong working relationship of both airlines and again demonstrates our enduring commitment to the Australian market.

"We support the management strategy of Virgin Australia and will continue to work closely with them on ways to improve our business.”

Etihad also holds equity stakes in Aer Lingus, Air Berlin and A