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Wednesday, October 31, 2012

SIA buys 10 per cent stake in Virgin Australia

Singapore Airlines has bought a 10 per cent stake in Virgin Australia Holdings in the latest round of airline partnership deals.
Virgin said it will takeover regional airline Skywest and buy a 60 per cent stake (AUD35 million) in Tiger Airways Australia, swelling its overall fleet to 139 aircraft, and enter a long-term strategic alliance with Singapore Airlines and Silk Air, progressively offering codeshare flights to over 70 new destinations across Asia, the Indian Subcontinent and Africa.
Virgin and Tiger will jointly spend another AUD$52.5m to increase Tiger's fleet, pending regulatory approval.
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