Etihad raises Virgin Australia stake back up to 10%

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Etihad Airways has increased its stake in Virgin Australia to 10% with share purchases made on the open market.

An Etihad spokesman confirmed that the stake has risen to 10% from 9%, but adds that this merely returns Etihad's stake size to "the previous level we held".

The spokesman declined to provide details about the cost of the stake or the average share price at which Etihad made its purchases.

Etihad's move follows Singapore Airlines' 24 April acquisition of an additional 9.9% in Virgin Australia, bringing its total stake to 19.9%.