Singapore Airlines (SQ, Singapore Changi) is set to become the second largest shareholder in Virgin Australia (VA, Brisbane International) after it announced plans to acquire another 9.9% stake in Australia’s second largest airline grouping, thereby taking its total holding to 19.9%. Under the deal, which is still subject to Australia's Foreign Investment Review Board approval, Singapore Airlines will purchase 255.5 million Virgin Australia Holdings shares for AUD 122.6million from Richard Branson’s Virgin Group, whose own stake in the airline will fall to 17%. The deal is part of a complex arrangement that has seen Virgin Australia move to take a controlling 60% stake in Tiger Airways Australia (Melbourne Airport). Etihad Airways (EY, Abu Dhabi International) is the airline's third largest shareholder with a 9% stake with Air New Zealand (NZ, Auckland International) 19.99% becoming the largest shareholder with 19.9%