News: Virgin on track to seal Skywest deal

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Virgin Australia Holdings Limited (ASX:VAH) is a step closer to completing its acquisition of Western Australian regional airline Skywest Airlines Limited (ASX:SXR) after regulatory approval was received from Singapore.



Virgin has bid to acquire 100 per cent of the airline.



The deal is now pending approval from the Australian Competition and Consumer Commissionand Skywest shareholders.



Virgin says the acquisition will fast-track its advancements in growing fly-in-fly out markets and see Skywest merge with the Virgin Australia brand.

 

Virgin Australia reported a net profit of $22.8 million in the 2012 financial year.