Virgin Australia has added another strategic partner on its quest to put up a global alliance that would give it active participation in key aviation markets around the world.

The latest triumph occurred Friday as the Competition Commission of Singapore stamped its seal of approval on Virgin Australia's partnership deal with Singapore Airlines, clearing the two airlines' code-sharing, marketing and pricing collaboration that is set to benefit travellers between the two countries.

Virgin Australia chief executive John Borghetti hailed the decision, which followed preliminary approval last week by the Australian Competition and Consumer Commission, as highlighting the onset of a healthy competition environment among airliners operating in the Asia-Pacific region.

"We believe the proposed alliance will enable us to offer a competitive, first-rate product to Australian and Asian travellers, as well as promote tourism in the two regions," Borghetti told The Australian.

He added that recent corporate adjustments implemented by Virgin Group, which also saw the airline morphing its brand name from Virgin Airlines to Virgin Australia, proved timely as the company brings in new marketing schemes that were underscored by new service packages.

With new business and economy class product now on its service offerings, Borghetti expressed confidence that Virgin Australia will prove a suitable business partner for Singapore Airlines, which he said is "widely regarded as one of the best airlines in the world."

The development brings to a total of four alliances so far that Virgin Australia has so far forged with airlines servicing major flight routes around the world.

Earlier, Virgin Australia successfully inked deals with U.S.-based Delta Air Lines, Etihad Airways of the Middle East region and Air New Zealand, marking the company's ramped-up presence in key global destinations.

The approval was also handed down a day after Borghetti was named by Sydney-based aviation consultants CAPA Aviation as Airline Chief Executive of the Year, with the association praising the Virgin Australia CEO's "vision and commitment in implementing an innovative airline model ... that has pushed the boundaries of industry thinking."