Skywest (ASX:SXR) has announced its codeshare partner Virgin Australia Holdings Limited (ASX:VAH) will invest $8 million into the Australian and South East Asia regional airline.
The Australian Competition and Consumer Commission granted interim approval to Virgin and Skywest’s proposed alliance at the beginning of this year, and most recently proposed to authorise their corporate alliance last month.
The proposed alliance is expected to promote competition with Qantas Airways Limited's (ASX:QAN) corporate customer base.
In the first half of the 2012 financial year Virgin Australia generated a net profit of $51.8 million.
VAH Price at posting:
40.8¢ Sentiment: None Disclosure: Held
