Etihad Airways recently increased its stake in Virgin Australia Holdings to ten per cent from five per cent by purchasing 221 million shares in the open market, following an approval from Australia's Foreign Investment Review Board in July this year.
James Hogan, President and CEO, Etihad Airlines, said, “We support the management strategy of Virgin Australia and will continue to work closely with them on ways to improve our business.” Hogen said that Etihad was not looking at becoming a majority shareholder or taking control of Virgin Australia.