SIA in talks to sell Virgin Atlantic stake
Singapore Airlines has confirmed it is in talks to sell its 49% stake in Virgin Atlantic.
But the airline says the talks "may or may not lead to a transaction".
Singapore Airlines bought its 49% stake in Virgin in 2000 for about US$884 million.
Sir Richard Branson has a 51% stake in Virgin Atlantic.
Singapore Airlines said in a brief statement that it was “in discussions with interested parties” to possibly divest its shareholding, but did not name the potential buyers.
Delta, the second-biggest US airline, has been looking to buy into Virgin for more than two years, as it seeks to increase its access to London’s Heathrow airport.
With Delta considering a bid, Virgin could form a North Atlantic venture with the U.S. carrier and its European partner AirFrance-KLM while joining the pair’s SkyTeam alliance.
"Virgin has rather lost its way as the world consolidates and they really need to bite the bullet," said John Strickland, director of JLS Consulting in London, talking to Bloomberg.
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