Virgin Australia has welcomed approval by the Australian Competition and Consumer Commission (ACCC) for the outright acquisition of Skywest.
Virgin Australia’s CEO, John Borghetti said the ACCC clearance was an important step in the airline’s growth plans.
“This acquisition will enable us to accelerate our expansion in the high growth fly-in-fly-out (FIFO) and regional markets, increasing competition in these important segments and bringing new benefits to customers. It will also be very positive for business and tourism, particularly in Western Australia and regional Australia, as we will invest to support the growth of Skywest”, Borghetti added.
Under the arrangement Skywest would be branded Virgin Australia, but would retain its own operators certificate and management team.
The proposed acquisition remains subject to Foreign Investment Review Board approval, as well as that of Skywest shareholders and the Singapore High Court.
