Virgin Australia Holdings will invest A$8 million in regional airline Skywest Airlines that is expanding its service to Australia's booming mining hubs.
Skywest caters for domestic and international travellers in and out of the state, corporate travellers and fly-in, fly-out mining staff.
Virgin Australia’s A$8 million investment is in the form of a convertible debt instrument, which can be converted into shares at any time at 45 cents a share. The shares last traded Thursday at 35.5 cents. Skywest has also agreed to grant Virgin Australia warrants at 5 cents a share with a conversion price of 45 cents.
Virgin Australia to invest in Skywest Airlines
