Etihad doubles its stake in Virgin Australia

ABU Dhabi-based carrier Etihad Airways has nearly doubled its stake in Virgin Australia Holdings (VA) to 19.9 per cent - similar to that held by Singapore Airlines - following a series of market purchases of VA shares in recent weeks.

This takes the total number of shares held by Etihad in VA to over 515 million. Previously, the Middle Eastern carrier had a stake of 10.5 per cent.

At 19.9 per cent, Etihad has hit the threshold approved by Australia's Foreign Investment Review Board in June this year. Air New Zealand is the biggest shareholder in Brisbane-based VA with 23 per cent.