Singapore Airlines (SQ, Singapore Changi) says it has no intention of acquiring a majority shareholding in Virgin Australia (VA, Brisbane International). In a statement issued late last week, the carrier said its interests in the Australian operator were “best served through an independent Virgin Australia.”
Speculation concerning Singapore Airlines' designs on Virgin Australia has grown in recent weeks given the recent entry of China's HNA Group and Nanshan Group into Virgin's shareholding and Air New Zealand's decision to wind down its participation in the Group.
At present, the Singapore carrier has a 20.09% stake in Virgin Australia, and has subscribed to its recently announced entitlement offer. Should other Virgin Australia shareholders not participate in the cash call, Singapore Airlines could then see its stake grow to 25.9%.
