SIA is selling its entire 49% stake in VS for a total sum of S$440 which it acquired 12 years ago for $1.2 Billion. Although SIA has lost about $800 million in the investment, it is considered lucky that Delta Airlines is interested in the offer.
SIA said the sale will result in a profit being booked in its account.
SIA share price jumped 9 cents to $10.84 on a thin volume of 255,000 shares transacted by 11 am this morning.
When Dr. Cheong the then CEO of SIA bought the stake from Branson, he told the media he was very happy to have parted with the S$1.2 billion. He, at that time considered it a good investment.
So simple as ABC and I could have been the CEO and the love of all shareholders.