SIA 'remains open to offers' for Virgin Atlantic

7th June 2011, Comments 0 comments

Singapore Airlines (SIA) remains open to offers for its 49 percent stake in British carrier Virgin Atlantic, chief executive Goh Choon Phong said Tuesday.

"We have been quite public in saying that if somebody comes along with a good offer, we can look at it and consider the offer," he told a news conference held on the sidelines of a global aviation conference.

"So that position remains."

The Singapore carrier paid 600 million pounds ($981 million at current rates) in 1999 for the 49 percent stake in Virgin Atlantic, which was started by flamboyant British tycoon Richard Branson in 1984.

SIA previously said its investment in the British carrier was not producing the sort of returns it was expecting.

SIA on Tuesday announced a long-term partnership with Virgin Australia, in which Branson still has a 26 percent stake, to share flights and coordinate schedules.

Virgin Australia was formerly known as Virgin Blue.

© 2011 AFP

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