Virgin Australia is proceeding with a $350 million equity raising after the Takeovers Panel decided to allow the planned capital raising to go ahead.
Photo: RNZ
AAP reports three foreign airlines - Air New Zealand, Etihad Airways and Singapore Airlines - will lift their collective stake in the company from 62.6% to up to almost 70%.
Virgin on Tuesday said the Takeovers Panel had advised it that it would not impose amendments to the airline's equity raising offer.
"The Takeovers Panel's decision allows the entitlement offer to continue as planned on its original terms and timetable," the company said in a statement.
"The Virgin Australia board commends the entitlement offer and it is hopeful that all eligible retail shareholders will support Virgin Australia by taking up their entitlements."