Singapore_Air From United Kingdom, joined Nov 2000, 13722 posts, RR: 20 Reply 1, posted (11 years 7 months 3 weeks 5 days 10 hours ago) and read 1665 times:
Singapore Airlines Limited is investing £12.25 million in Virgin Atlantic holdings. Virgin Atlantic Holdings.
SIA said that the investment would increase working cpaital and funding for the airline and expenditure requirements.
Analysts say that the move was to protect SIA's £600+ million investment in Virgin in 1999. "What it means is that Virgin Atlantic will live to fight another day, there were some concerns about that earlier," said John Casey, analyst at DBS Vickers.
Crosswind From United Kingdom, joined Nov 2000, 2592 posts, RR: 59 Reply 3, posted (11 years 7 months 3 weeks 5 days 7 hours ago) and read 1616 times:
(not an article)
Refering to the Reuters article it points out that Singapore Airlines is investing £12.5M, and Virgin Investments is putting in the same amount of money, £12.5M to maintain Virgin Atlantic as over 50% UK (EU) owned.
Unfortunately, Singapore_Air is so blinkered and biased he only posted the information relating to Singapore Airlines in his post meaning the whole story didn't make sense, because the fact that Virgin Investments put in the same amount of cash is the most important part of the story.
Singapore_Air From United Kingdom, joined Nov 2000, 13722 posts, RR: 20 Reply 5, posted (11 years 7 months 3 weeks 5 days 7 hours ago) and read 1607 times:
NTE 2 May 2002
Virgin Investments SA and Singapore Airlines (SIA) have agreed to subscribe for additional shares in Virgin Atlantic Limited (Virgin Atlantic), amounting to GBP25 million (equivalent to S$65.7 million).
In line with SIA's 49 per cent stake in Virgin Atlantic, SIA's portion of this subscription amounts to GBP12.25 million (equivalent to S$32.2 million).
The additional capital is for the purpose of increasing Virgin Atlantic's working capital and funding future capital expenditure requirements.
Note: The exchange rates are based on rates published on 30 April 2002 in the Business Times, Singapore.
Submitted by Foo Kim Boon, Company Secretary on 02/05/2002