Virgin investment completed: Singapore Airlines

The Singaporean carrier has confirmed its placement of up to 245,577,511 shares in Virgin Australia have been completed, representing a ten percent stake in the airline.

The AU$105 million purchase was secured today and is part of the airline’s strategic investment to fund future growth.

Although an Australian carrier, Virgin Australia is now almost 30 percent owned by international investors, with Air New Zealand holding 19.99 percent of the airline.

In other Virgin news, the carrier announced a new partnership with American Express to offer a $0 annual fee credit card giving Cardmembers the ability to earn Velocity Points on their everyday spending.

Sourced: etravelblackboardasia