Virgin Atlantic is expected to sell its 10% stake in AirAsia X to existing shareholders for more than $21 million, a report claimed yesterday.
The move comes as Malaysia-based AirAsia X, one of the world's few long-haul budget carriers, prepares for listing at the end of the year.
"The stake (belonging to Virgin) will be taken up by Aero Ventures and AirAsia on a pro-rata basis," said Malaysian financial newspaper The Edge said.
AirAsia X chief executive Azran Osman-Rani told the AFP news agency that he was not aware of plans for Virgin to exit the firm.
He said: "We can't say anything. We are not privy to any of the discussions."
The Edge said that after the share sale, several individuals - including the group CEO of regional carrier AirAsia, Tony Fernandes, with business partner Kamarudin Meranum - will collectively hold 60% of AirAsia X.
The balance of 40% will be held by AirAsia, Japan's Orix and Bahrain-based Manara Consortium.
Virgin's involvement with AirAsia X when it was launched in 2007 helped boost confidence in the airline at a time when the future did not look bright for long-haul budget carriers.
This is a community-moderated forum.
All post are the individual views of the respective commenter and are not the expressed views of Travel Weekly.
By posting your comments you agree to accept our Terms & Conditions.