Singapore Airlines plans to increase its stake in Virgin Australia

Singapore Airlines plans to increase its stake in Virgin Australia from 10 per cent now to almost a fifth.

This will be done through a purchase of shares at a total cost of A$122.6 million (S$156.1 million) , SIA said in an announcement on Wednesday morning.

The Singapore carrier bought a stake in Virgin late last year in a show of commitment to the Australian market and to deepen ties with partner carriers.

The plan is still subject to approval by Australian regulators.