Hong Kong-based Affinity Equity Partners is exploring a sale of its 35% stake in Virgin Australia (VA, Brisbane International) frequent flyer programme Velocity, the Australian carrier said in a stock market filing.
"[Affinity] has requested that various exit options for the sale of its stake be considered. The Virgin Australia Holdings Group remains committed to the long-term growth of the Velocity business and expects to remain the majority investor in Velocity," Virgin Australia said.
The carrier owns a 65% stake in the programme. Affinity bought its stake from Virgin in 2014 for AUD335 million Australian dollars (USD235 million).
The timeline for the sale has not been announced. Virgin also said that the terms of the potential sale were unknown as of yet.
