VIRGIN AUSTRALIA WELCOMES APPROVAL OF SKYWEST SHAREHOLDERS OF PROPOSED ACQUISITION OF SKYWEST

Virgin Australia Holdings Limited (Virgin Australia) today welcomed approval from Skywest Airlines Ltd (Skywest, ASX: SXR, LSE:SYKW) shareholders of the proposed acquisition of 100% of the issued share capital of Skywest, pursuant to a scheme of arrangement (the Scheme) under the laws of Singapore.

The positive shareholder vote represents the satisfaction of another condition required to complete the proposed acquisition announced on the 30th October 2012.

The proposed acquisition still remains subject to certain conditions and regulatory approvals, including approval of Foreign Investment Review Board and the sanction of the High Court of Singapore.