Etihad wants a bigger slice of Virgin

first_imgEtihad Airways wants to increase its stake in Virgin Australia from 19.9 percent to 23 percent. Etihad Airways is seeking to use ‘creep provisions’ in the Corporations Act to back its desire to own nearly a quarter of Virgin. Forseeing approval from the FIRB, Eithad has lodged an application with the FIRB.  These provisions allow companies to increase stock in a company, subject to the approval of the Foreign Investment Review Board (FIRB). Source = ETB News: T.N. Qantas chief executive officer Alan Joyce is in Canberra today prosecuting the case for changes to the Qantas Sales Act which he believes will help level the playing field. The move is likely to anger Qantas, given its previous arguments about there being no level competitive environment.last_img

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