VIRGIN AUSTRALIA RECEIVES NO OBJECTION FROM FIRB FOR ACQUISITION OF SKYWEST

Virgin Australia Holdings Limited (Virgin Australia) today welcomed confirmation from the Foreign Investment Review Board (FIRB) that it has no objections to the proposed acquisition of 100% of the issued share capital in Skywest Airlines Ltd (Skywest, ASX: SXR, LSE:SKYW), pursuant to a scheme of arrangement under the laws of Singapore.

This confirmation satisfies another condition for the proposed acquisition of Skywest. The proposed acquisition will enable Virgin Australia to fast track its growth in regional Australia and develop a more integrated network, service and frequent flyer program for the benefit of its customers.

The proposed acquisition still remains subject to certain conditions and regulatory approvals, including the sanction of the Singapore High Court.