SIA confirms talks to sell Virgin Atlantic stake

Singapore
Source:
This story is sourced from Pro
See more Pro news »

Singapore Airlines is in talks with "interested parties" about a possible divestment of its 49% stake in Virgin Atlantic.

The Star Alliance member adds that the discussions may or may not result in a transaction, and that it will make further announcements when necessary.

While the airline did not say who it was in negotiations with, reports from the US and the UK say that Delta Air Lines has approached SIA with a view to buying the stake.

Both Delta and Virgin Atlantic could not be reached for a comment.

Singapore Airlines bought its 49% stake in Virgin Atlantic in 1999 for £600m ($961 million), but it has been looking to offload that for several years.

In October, SIA bought a 10% stake in Virgin Australia for Australian dollars (A$) 105 million ($109 million) to help to cement a partnership that the two airlines signed in 2011.