We're in for long term streategy with Virgin Australia Etihad chief says

 We're in for long  term streategy with Virgin Australia Etihad chief says: Etihad Airways cheif revealed about Investments in  Virgin Australia here we give you the details. Etihad Airways has decided to increase its stake in Virgin Australia and announced that she was ready to buy if the price was good, paving the way for increased activity in the register of shareholders of the Australian public, which already includes some more shares of the biggest names in the world of aviation.  General James Hogan, Etihad said the Australian group was the purchase of shares on the market in the last two weeks of receipt of the notification of foreign investment in Virgin Australia to increase to 19.9 percent. Participation of 10 percent.  This will probably be the number of shares it has acquired in the coming days. Heavier than normal share turnover Virgin led to speculation yesterday that bought other Etihad. As a major shareholder of the door of the Middle East to provide for the acquisition of the Australian Stock Exchange company 1 percent or more additional information.

"We buy on the market right now," Mr. Hogan."We are here for the long game, so there is no urgency."
Last month, Air New Zealand has increased its stake in Virgin Australia, from 19.9 percent to 22.99 percent and said he is seeking approval to increase its stake NIF than three percent. In April, Singapore Airlines has increased its stake in Virgin Australia doubled to nearly 20 percent from $ 123 million to acquire shares of Virgin Group Richard Branson, who still owns to buy. 13 percent of

When asked, Etihad will continue to buy, Mr Hogan said: "If this is a reasonable price and at the right price.
"We fully support (Virgin Australia CEO) John Borghetti and his government. We have an excellent relationship with Air New Zealand and we have a friendly relationship with Singapore. Even if we do not codeshare on passenger lines, we will code share on the truck. This is our choice, and we continue to work.

Although Hogan declined to comment further, dealers said yesterday, there was speculation that Virgin Group to more than its share of about 50 cents per share was finished unloading. Virgin shares closed at just over 1 per cent lower yesterday at 44.5c. It is believed, Etihad shares were repurchased at a level of around 43C and 45C.  No action, with the exception of the Virgin Group, has given representation on the board and Etihad step as Singapore and Air NZ can not buy in Virgin Australia by the end of this year in the near future. Shares.  Then they will be able to move the 3 percent increase, without making a takeover bid. Their holdings every six months

Virgin Australia is an important partner for the alliance Etihad Etihad access to the interior of the presence of the Australian airline and its customer base and its ability to Europe, the Middle East and Central Asia passengers leading destination of Abu Dhabi.

Earlier this year, Qantas moved its European hub from Asia to Dubai, boasted venture with Emirates through its joint.  But Virgin codeshare with Singapore Airlines offers passengers the opportunity to fly in Europe continues throughout Asia, not the Middle East.

"They grew their company. This had little impact on us, as we would expect," said Mr. Hogan Singapore Virgin codeshare. "But it gives them more power against Qantas. We have a group of Singapore and gives strength against Qantas."  Virgin Australia Council held its first meeting this month in Abu Dhabi. Mr. Hogan is believed to have organized a private dinner on board, after the meeting.

He said the two companies continue to look for opportunities to save money by working in areas such as information technology, procurement and purchasing and Etihad, Chief Financial Officer and Chief Financial Officer James Rigney Virgin Australia Sankar Nayran separately gathered in Abu Dhabi for talks together cost .  "Both CFOs sit and look at things in common," Mr. Hogan.

"But this is not a race. They are very specialized area of ​​the world. We are in the Middle East. But I'm sure we can find a common language. But it's a long Th".  The airline also has a share of investment in Airberlin Air Seychelles and Aer Lingus.  "We have not invested in these companies for five minutes," Mr. Hogan. "This is a long term strategy."