The Australian Government has given the green light to Etihad Airways to increase its equity stake in Virgin Australia Holdings to as much as 10%.
The Abu Dhabi-based airline currently has a 4.99% holding in the in Virgin Australia, acquired earlier this year, and had applied to the Foreign Investment Review Board to increase the stake.
An increase would serve as a deepening of the partnership between the two airlines which includes codesharing on flights, joint marketing initiatives and reciprocal frequent flyer programs.
