DUBAI: Abu Dhabi's Etihad Airways said on Thursday that it raised its equity stake in Virgin Australia to 19.9 percent, reaching a threshold set by Australian regulators.
The Gulf carrier raised its stake from 10.5 percent through a series of market purchases of Virgin Australia shares over recent weeks, it said in a statement.
The Abu Dhabi-based airline now holds more than 515 million shares in the Australian carrier.
Etihad, which previously held just a 5 percent stake in Virgin Australia, had more than doubled its stake in September last year and had expressed plans to buy more shares. (Reuters)