Singapore Airlines increases stake in Virgin Australia

Tuesday, 08 Apr, 2016 0

Singapore Airlines has upped its stake in Virgin Australia, a week after fellow shareholder Air New Zealand signalled its intention to sell out.

Singapore Air announced to the Singapore Stock Exchange it had increased its equity to 23.11%, up from 22.91%.

SIA is the third biggest shareholder in Virgin behind Air NZ which has 25.9% and Etihad Airways with 25.1%.

Singapore Airlines chief executive Goh Choon Phong recently said it has approval from the Foreign Investment Review Board to increase its stake up to a maximum 25.9% in line with the other two major backers.

The airline is being viewed as the most likely to buy Air NZ’s stake although there has been media speculation the Kiwi carrier may instead team up with Singapore Air for a possible takeover in Virgin.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.