Virgin Australia’s acquisition of Skywest clears another hurdle

Australia’s Foreign Investment Review Board (FIRB) has given the green light for Virgin Australia to acquire Perth-based regional carrier Skywest Airlines.

In a statement to the stock exchange, Skywest said the FIRB has passed the deal with no objections, satisfying another condition of the proposed acquisition.

The deal has already been cleared by the Australian Competition and Consumer Commission (ACCC) and Skywest’s shareholders, but it still needs the go-ahead from the Singapore High Court.

In October 2012, Virgin Australia detailed plans to acquire 100% of Skywest and 60% of Tiger Airways Australia.