Singapore Airlines buys 10% stake in Virgin Australia
Published on Oct 30, 2012 7:03 AM
Singapore Airlines will acquire a 10 per cent stake in Virgin Australia for US$105.3 million.
The Australian airline will also take a 60 per cent stake in Tiger Airways Australia which is a third owned by SIA, parties said on Tuesday morning.
Tiger Australia will be managed and run separately from its sister carrier, Tiger Singapore.
The SIA-Virgin tie-up is significant given that Middle Eastern carrier Etihad also has a 10 per cent stake in Virgin, industry observers said.
Qantas on the other hand recently sealed a partnership with Dubai-based Emirates, which will mean among other developments, the flying kangaroo operating to London via Dubai instead of Singapore.