SIA sells 49% stake in Virgin Atlantic to Delta Air Lines for 360 million US dollars
Singapore Airlines (SIA) says it is selling its stake in Virgin Atlantic to Delta Air Lines for 360 million US dollars.
SIA owns a 49 per cent stake in the British carrier.
This ends SIA's 12-year investment in Virgin Atlantic.
The sale by SIA underscores its reduced reliance on long-haul routes to Europe and the United States and its deeper focus on Asia.
The sale by Singapore Airlines ca
me after sources familiar with the matter said Delta wants to gain access to Virgin's landing rights at London's Heathrow airport.
The deal, which Delta said would lead to a trans-Atlantic joint venture with Virgin Atlantic, is subject to regulatory clearance in the United States and Europe.
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