It comes a day after Australia approved Virgin's deal to purchase a controlling stake in Singapore Airlines' associate budget carrier Tiger Airways Australia.

BBC: Singapore Airlines increases stake in Virgin Australia

Etihad has stakes in Air Seychelles, Air Berlin, Virgin Australia and Aer Lingus, with these partner airlines contributing 19% of passenger revenues.

BBC: Etihad Airways sees profits triple

Singapore Airlines has increased its stake in Virgin Australia to tap into the Australian market and counter the strength of its rivals.

BBC: Singapore Airlines increases stake in Virgin Australia

It has partnerships with Air Berlin, Air Seychelles and Virgin Australia, but also signed codeshare deals this quarter with Aer Lingus and China Eastern Airlines.

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