World

Singapore Airlines in talks to sell stake in Virgin Atlantic

PTI Singapore | Updated on March 12, 2018 Published on December 03, 2012

Singapore Airlines today said that it is in talks to sell its 49 per cent stake in Virgin Atlantic.

The airline said in a statement it is in discussions with “interested parties” about a sale.

A person with knowledge of the possible deal said that Atlanta-based Delta Air Lines Inc is in talks with Singapore Airlines. The person requested anonymity because the talks are ongoing.

Virgin Atlantic is the second-biggest airline at London’s Heathrow airport, behind British Airways and BA is a partner with Delta competitor American Airlines.

A Delta partnership with Virgin Atlantic on US-London routes would allow it to benefit from Virgin’s established position at Heathrow.

Some 51 per cent of Virgin Atlantic is owned by billionaire Richard Branson, who founded the airline in 1984. Singapore Airlines bought its stake from Branson in early 2000 for £603.

Singapore Airlines said in its statement that the talks may or may not result in a deal.

The London-New York route is one of the world’s major air corridors, and Delta has been undertaking a major expansion of its hubs at New York’s LaGuardia and John F. Kennedy airports.

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Published on December 03, 2012
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