Singapore Airlines mulls over Virgin Atlantic sale
December 4 , 2012
Singapore Airlines is in talks to sell its 49 percent stake in Virgin Atlantic.
Media reports on Monday reported that Delta Air Lines was the interested party according to unnamed sources.
Billionaire Richard Branson holds a controlling 51 percent of Virgin.
A partnership with Virgin would enable US-based Delta to access the transatlantic business travelers market between the U.S. and London.
Singapore Air acquired its 49 percent stake in Virgin in 2000 for $884 million.
Since then Singapore Air has injected further capital into Virgin and the total investment now stands at $966 million.
Delta, the second-biggest American airline, has been looking to buy into Virgin for over two years in a bid to increase its access to London's Heathrow airport, where landing slots are difficult to acquire.