Virgin Australia Holdings Ltd. (VAH), Australia’s second-ranked carrier, sold a 10 percent stake to Singapore Airlines Ltd. (SIA) and sought control of two domestic rivals amid a challenge to market leader Qantas Airways Ltd. (QAN)
Singapore Air, the world’s second-largest carrier by market value, will spend A$105 million ($108 million) for the stake, Brisbane-based Virgin said in a statement today. The Australian airline will pay at least A$35 million for 60 percent of the domestic unit of Tiger Airways Holdings Ltd. (TGR) and will bid for all of Skywest Airlines Ltd. (SKYW), according to filings. Full story
Related:
Virgin Australia sells 10% stake to Singapore Airlines - BBC News
Virgin Australia sells stake to Singapore, pounces on Tiger - XN MSN News
Virgin Australia bites into Tiger, sells shares to Singapore Airlines - etravelblackboard.com
Virgin Australia teams up with Tiger Airways - perthnow.com.au
Domestic airfare war set to heat up after Virgin buys Skywest and stake in Tiger Airways - perthnow.com.au
