News: Etihad confirms stake in Virgin

.

Middle Eastern airline Etihad has confirmed it has acquired a 3.96 per cent stake in Virgin Australia Holdings Limited (ASX:VAH).

Both airlines are strategic alliance partners and Etihad says its investment strengthens the 10-year partnership and will enrich the commercial benefits.

Etihad, the United Arab Emirates national airline, bought the interest through purchases on the open market in recent weeks.

Virgin yesterday reported a 6.7 per cent lift in group passenger numbers for April on the back of 7.9 per cent growth in domestic customers.

In the first half of the 2012 financial year Virgin Australia recorded a net profit of $51.8 million.