Singapore Airlines rules out acquisition of Virgin Australia
Posted 24 Jun 2016 11:28 Updated 24 Jun 2016 11:37
SINGAPORE: Flag carrier Singapore Airlines (SIA) has ruled out buying a majority stake in Virgin Australia, saying its interests in the market are “best served through an independent Virgin Australia”.
The statement on Friday (Jun 24) comes after speculation that SIA was interested in acquiring Virgin Australia, following news that Air New Zealand plans to sell its 25.9 per cent stake in the Australian airline.
“SIA wishes to put on record that it has not contemplated taking a majority stake in Virgin Australia. SIA’s interests in the Australian market - as well as in Virgin Australia itself - are best served through an independent Virgin Australia,” SIA spokesperson Nicholas Ionides said.
The Singapore carrier currently has a 20.09 per cent stake in Virgin Australia, and has committed to supporting the Australian airline’s recently announced entitlement offer. This could increase SIA’s shareholding to a maximum of 25.9 per cent, should other Virgin Australia shareholders not take up their entitlements.
“SIA and Virgin Australia have an extensive commercial partnership that has gone from strength to strength over the past five years, providing many consumer benefits. SIA is confident of the long-term prospects of Virgin Australia and is committed to supporting its long-term growth,” Mr Ionides said.
- CNA/cy
- wong chee tat :)
Showing posts with label Virgin Australia. Show all posts
Showing posts with label Virgin Australia. Show all posts
Monday, June 27, 2016
Monday, May 13, 2013
Virgin to launch health club in Singapore
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 :)
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 :)
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