VIRGIN AUSTRALIA WELCOMES FIRB APPROVAL FOR THE PROPOSED ACQUISITION OF 60% OF TIGER AUSTRALIA

Virgin Australia Holdings Limited (Virgin Australia) today welcomed confirmation from the Foreign Investment Review Board that it has no objections to the proposed acquisition of 60 per cent of the existing shares in Tiger Airways Australia Pty Ltd (Tiger Australia).

This confirmation satisfies another condition for the proposed acquisition of Tiger Australia, which will enable Virgin Australia to access the budget market segment and expedite the growth of Tiger Australia.

The proposed transaction still remains subject to certain conditions and Virgin Australia expects the transaction to complete by mid-July.