Virgin to launch health club in Singapore
By Yvonne Chan
POSTED: 13 May 2013 2:43 PM
The Virgin brand, linked to British billionaire Richard Branson, has made its way to Asia in the form of fitness.
SINGAPORE: The Virgin brand, linked to British billionaire Richard Branson, has made its way to Asia in the form of fitness.
Singapore is the first stop in Asia for the new fitness chain Virgin Active. Mr Branson arrived in Singapore on Monday to announce the fitness chain's first outlet will open in One Raffles Place in about two months' time, with six more clubs in the pipeline in the next few years.
Virgin Active will also be launched in other Asian markets, such as Thailand and South Korea.
To stay ahead, Mr Branson, founder of the Virgin Group, said it is imperative to keep re-inventing the Virgin brand.
This is a motto he applies across the Virgin Group, including the aviation arm, which includes Virgin Atlantic, Virgin America and Virgin Australia.
Having recently sold 10 per cent of Virgin Australia to Singapore Airlines, Mr Branson now has a 13 per cent stake in the company.
Mr Branson said: "The Virgin Brand will be there in Australia for many years to come. We just want to have a great group of partners. At the moment we have no plans to sell our stake but if there was a partner that was interested, and that would enhance our brand, we would certainly consider it. "
- CNA/xq
- wong chee tat :)
Showing posts with label Virgin Atlantic. Show all posts
Showing posts with label Virgin Atlantic. Show all posts
Monday, May 13, 2013
Wednesday, December 12, 2012
SIA sells Virgin Atlantic stake to Delta Air Lines
SIA sells Virgin Atlantic stake to Delta Air Lines
Posted: 11 December 2012 2303 hrs
SINGAPORE: Singapore Airlines has confirmed it is selling its 49% stake in Richard Branson's Virgin Atlantic to Delta Air Lines for US$360 million (S$439 million) in cash.
The deal requires regulatory approval and is expected to close by the end of next year.
SIA acquired the stake in Virgin Atlantic more than 12 years ago.
In a filing with the Singapore Exchange on Tuesday, the carrier said it had been evaluating strategic options for its stake for some time, as the investment has not performed to expectations.
It added that commercial arrangements with Virgin Atlantic, including codesharing and frequent-flyer programme ties, are expected to remain in place after the divestment.
Separately, Delta Air Lines said it will form a joint venture with Virgin Atlantic.
Under the accord, Virgin and Delta will share costs and revenues on routes between New York and London.
Virgin Group and Richard Branson will retain a controlling stake in Virgin Atlantic.
The deal will enable Delta to expand at London's Heathrow airport, a lucrative hub for corporate passengers where landing slots are generally hard to acquire.
- CNA/ir
- wong chee tat :)
Posted: 11 December 2012 2303 hrs
SINGAPORE: Singapore Airlines has confirmed it is selling its 49% stake in Richard Branson's Virgin Atlantic to Delta Air Lines for US$360 million (S$439 million) in cash.
The deal requires regulatory approval and is expected to close by the end of next year.
SIA acquired the stake in Virgin Atlantic more than 12 years ago.
In a filing with the Singapore Exchange on Tuesday, the carrier said it had been evaluating strategic options for its stake for some time, as the investment has not performed to expectations.
It added that commercial arrangements with Virgin Atlantic, including codesharing and frequent-flyer programme ties, are expected to remain in place after the divestment.
Separately, Delta Air Lines said it will form a joint venture with Virgin Atlantic.
Under the accord, Virgin and Delta will share costs and revenues on routes between New York and London.
Virgin Group and Richard Branson will retain a controlling stake in Virgin Atlantic.
The deal will enable Delta to expand at London's Heathrow airport, a lucrative hub for corporate passengers where landing slots are generally hard to acquire.
- CNA/ir
- wong chee tat :)
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