Delta seeks Singapore Airlines’ 49% stake in Virgin Atlantic

Singapore Airlines recently announced that it is being approached by Delta Air Lines to acquire its 49 percent stake in Richard Branson’s Virgin Atlantic Airways.

Delta Air Lines bid for nearly half the business of Virgin Atlantic Airways has prompted its owner Richard Branson to sell his controlling stake.

Media reports hinted that Delta Air Lines had offered to purchase 49 percent stake in Virgin Atlantic Airways being currently held by Singapore Airlines. The reports also said that the purchase of Singapore Airlines’ stake in Virgin Atlantic could even result in acquiring a majority stake from Branson at a later stage.

Richard Branson launched Virgin Atlantic Airways in 1984. He presently holds a 51 percent stake in the airline.

Currently, Singapore Airlines flights are operated to destinations spanning over six continents across the world. Singapore Airlines was the first carrier to operate the world’s longest nonstop flight between Singapore and New York (Newark) in June 2004 utilizing Airbus A340-500 aircraft.