Singapore Airlines 'open to offers' for Virgin Atlantic stake

Singapore Airlines 'open to offers' for Virgin Atlantic stake

Singapore Airlines’ is prepared to consider offers for its 49% stake in Virgin Atlantic.

The carrier’s chief executive Goh Choon Phong spoke on the issue during a global aviation conference in Singapore.

“I think we have been quite open [to offers]. We have stated we are open if somebody is interested in the 49% stake in Virgin,” he said.

The disclosure came as the UK carrier’s founder Sir Richard Branson, who owns 51% of the business, considers options for Virgin Atlantic to enable it to better compete with rival British Airways tie up with American Airlines on key transatlantic routes.

SIA acquired its shareholding in Virgin Atlantic in 1999 for more than £600 million, valuing the airline at £1.225 billion.

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