Etihad spends A$26.3m on Virgin Australian stake increase

Dubai: Etihad Airways spent 26.3 million Australian dollars (Dh82.5 million) to increase its holding in Virgin Australia to 22.9 per cent, according to a statement on the Australian Securities Exchange (ASX).

Etihad, raising its stakes by 1.7 per cent, purchased the shares last week in an off market trade at A$0.435 per ordinary share.

Australian media first reported the change in holding over the weekend.

Virgin Australia shares closed down 1.2 per cent to 0.410 per cent on the ASX on Tuesday.