Virgin Australia (VA, Brisbane International) has received confirmation from the Australian Foreign Investment Review Board that it has no objections to its proposed USD33.7million (AUD35million) acquisition of 60% of the existing shares in loss-making Tiger Airways Australia (Melbourne Airport). The 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. Thereafter, Virgin plans to inject a further AUD62.5 million into Tiger to increase its fleet size to 35 aircraft from 11 by 2018. While the proposed acquisition is still subject to certain conditions, Virgin Australia expects the agreement to be consummated by mid-July.