SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

Singapore Airlines Invests In More VS Shares

Thu May 02, 2002 9:16 pm

http://sg.biz.yahoo.com/020502/15/2ovl7.html

Singapore Airlines are putting in £25 million in to buying new Virgin Atlantic shares.

I am busy, so cannot post more information. Please see the Reuters / Yahoo website link above.
Anyone can fly, only the best Soar.
 
SInGAPORE_AIR
Posts: 11619
Joined: Mon Nov 13, 2000 4:06 am

RE: Singapore Airlines Invests In More VS Shares

Thu May 02, 2002 9:23 pm

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.

More information at the Reuters / Yahoo website
Anyone can fly, only the best Soar.
 
docpepz
Posts: 1706
Joined: Thu May 24, 2001 8:20 pm

RE: Singapore Airlines Invests In More VS Shares

Thu May 02, 2002 11:18 pm

AM I GLAD not to see (NOT AN ARTICLE)

I doubt this means their stake will go beyond 50% though. If not it ceases to be a European airline and there're heaps of implications there.
 
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Crosswind
Posts: 2536
Joined: Sat Nov 25, 2000 4:34 am

RE: Singapore Airlines Invests In More VS Shares

Thu May 02, 2002 11:46 pm

(not an article)

Yes, Docpepz,
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.

Regards
CROSSWIND
 
SInGAPORE_AIR
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RE: Singapore Airlines Invests In More VS Shares

Fri May 03, 2002 12:20 am

Crosswind: I'm sorry. I didn't know clicking a link is so hard work for some people.
Anyone can fly, only the best Soar.
 
SInGAPORE_AIR
Posts: 11619
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RE: Singapore Airlines Invests In More VS Shares

Fri May 03, 2002 12:24 am

VIRGIN ATLANTIC
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
Anyone can fly, only the best Soar.
 
docpepz
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Joined: Thu May 24, 2001 8:20 pm

RE: Singapore Airlines Invests In More VS Shares

Fri May 03, 2002 9:57 am

OK, now that i have the full picture and have everything in perspective, it sure does make more sense!!!!!!!!!

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