VIRGIN WELCOMES APPROVAL

VIRGIN WELCOMES APPROVAL

VIRGIN Australia (ASX: VAH) has announced that Affinity Equity Partners' (Affinity) proposed acquisition of a 35 per cent minority stake in its Velocity Frequent Flyer program is expected to go ahead by the end of October.

The conditions precedent have all been either satisfied or waived

Once complete, the leading Asia Pacific investment firm and fund manager's acquisition will enable VAH (CEO John Borghetti pictured) to accelerate the growth of Velocity Frequent Flyer and fast track its strategy to become one of the world’s leading loyalty programs.

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