31 Mar '14, 6am

Singapore Airlines lifts stake in Virgin Australia

Singapore Airlines lifts stake in Virgin Australia

Singapore Airlines has lifted its voting power in Virgin Australia Holdings from 19.83 percent to 22.17 percent in line with similar moves flagged by fellow major shareholders Abu Dhabi's Etihad Airways and Air New Zealand , it was reported. Singapore Airlines acquired the extra shares in ordinary ASX trade with approval from Australia's Foreign Investment Review Board (FIRB), Malaysian news agency Bernama reported. In December, Virgin Australia's three biggest shareholders - Singapore, Etihad Airways and Air New Zealand - flagged that they would increase their stakes in the airline after only 25 percent of retail shareholders took up entitlements under a $350m capital raising. Air NZ had previously obtained FIRB approval and increased its Virgin stake from 23 percent to 25.5 percent under the deal, The Australian newspaper reported. UAE flag carrier Etihad Airways has als...

Full article: http://www.arabianbusiness.com/singapore-airlines-lifts-s...

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