Etihad Airways is reportedly behind a recent surge in activity on Virgin Australia's share register.
A total of 13.5 million shares in the company were traded on 16 July, according to charts from the Australian Securities Exchange. The transaction volume represents under 1% of Virgin's capital base, and therefore does not require a disclosure from the company that names the acquirer of the shares.
The transaction occurred at the market price of A$0.4($0.37) per share. The following day Virgin's share price traded up marginally to close at A$0.46.
When contacted by Flightglobal Pro, a spokesman for Etihad would not confirm if it was the purchaser.
"We may purchase available shares to increase our shareholding where it is prudent to do so, and will provide notice in accordance with regulatory disclosure requirements," he says.
Etihad recently received approval from Australia's Foreign Investment Review Board to lift its stake in the Australian carrier from 10% to a maximum of 19.9%.
Air New Zealand is the largest shareholder in Virgin with a 35% stake.