A Virgin Airlines plane passes over Coffs lookout.
A Virgin Airlines plane passes over Coffs lookout. Trevor Veale

$350m Virgin equity plan in full flight again

VIRGIN Australia will go ahead with a $350 million equity raising after the Takeovers Panel declined an action against the move by the Australian Shareholders Association.

The airline's equity raising plans were announced in mid-November and would see three foreign airlines - Air New Zealand, Etihad Airways and Singapore Airlines - lift their collective stake in the company by almost 8 per cent to near 70 per cent.

The Australian Shareholders Association took action against the move over concerns on a limit placed on smaller retail investors, who will only be able to apply for 40 per cent of their entitlement.

The organisation  sought orders from the Takeovers Panel removing the cap for retail investors and blocking Etihad from lifting its stake in Virgin.

In a statement to the ASX today, Virgin welcomed a decision by the Takeovers Panel to decline the request.


Bushfire reported near Glen Esk

Bushfire reported near Glen Esk

People in the area may be affected by smoke

Newly planted trees stolen straight out of soil in parklands

Newly planted trees stolen straight out of soil in parklands

The group planted 35 trees for National Tree Day earlier this year.

UPDATE: Fire sweeps through estimated 3000 hectares

UPDATE: Fire sweeps through estimated 3000 hectares

The fire is still burning, now hitting an estimated 3000 hectares

Local Partners