Singapore Airlines in talks on Virgin Atlantic sale

Virgin Atlantic airliner Virgin is the second-biggest airline at Heathrow airport in London after British Airways

Singapore Airlines says it is in talks to sell its 49% stake in Virgin Atlantic.

News agencies, including Reuters and Bloomberg, reported that Delta Air Lines was the interested party according to unnamed sources.

Billionaire Richard Branson holds a controlling 51% of Virgin.

A partnership with Virgin would allow US-based Delta to access the lucrative transatlantic business travellers market between the US and London.

Singapore Air bought its 49% stake in Virgin in 2000 for about £551m ($884m). Since then Singapore Air has injected further capital into Virgin and now values its total investment at £600.25m.

Singapore Air said in a brief statement that it was "in discussions with interested parties" to possibly divest its shareholding, but did not name the potential buyers.

It added that the talks may or may not lead to a transaction.

Delta, the second-biggest US airline, has been looking to buy into Virgin for more than two years, as it looks to increase its access to London's Heathrow airport.

Virgin is the second-biggest airline at Heathrow airport, where landing slots are hard to acquire.

Virgin has also been looking for investors, hiring Deutsche Bank in 2010 to look into its options.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

  • Cartoon of women chatting on the metroChat wagon

    The interesting things you hear in a women-only carriage


  • Replica of a cargo boxSpecial delivery

    The man who posted himself to the other side of the world


  • Music scoreFinal score Watch

    Goodbye to NYC's last classical sheet music shop


  • Former Secretary of State Hillary Rodham Clinton checks her Blackberry from a desk inside a C-17 military plane upon her departure from Malta, in the Mediterranean Sea, bound for Tripoli, Libya'Emailgate'

    Hillary gets a taste of scrutiny that lies ahead


Elsewhere on the BBC

  • Woman standingMysterious miracle

    It's extremely unusual and shouldn't give false hope, but what makes the body beat cancer on its own?

Programmes

  • A cyborg cockroachClick Watch

    The cyborg cockroach - why has a computer been attached to this insect’s nervous system?

Try our new site and tell us what you think. Learn more
Take me there

Copyright © 2015 BBC. The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.