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Virgin Atlantic Stake Sale Completed
25 June 2013
Virgin Atlantic Stake Sale
Completed
Singapore Airlines has completed the sale of its 49 percent stake in Virgin Atlantic Ltd to Delta Air Lines.
As announced on 11 December 2012, Delta agreed to pay US$360 million (NZ$438.6 million) in cash for Singapore Airlines’ entire shareholding in the UK-based airline group.
Commercial arrangements between Singapore Airlines and Virgin Atlantic, encompassing codesharing, frequent-flyer programme cross participation and reciprocal lounge access, will remain in place.
ends
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