The one that flew away: SIA's big miss
SIA missed out on an opportunity to take control of Virgin Australia after it was blindsided by Virgin's tie-up with Chinese conglomerate HNA Group, according to Capa. A recent announcement by Virgin said it was selling a 13% stake to HNA, which the group is expected to top up to 19.99%. Also, Air NZ, another stakeholder in Virgin Australia, said it was selling a 19.98% stake to China's Nanshan Group. The deals will ensure Virgin remains a viable competitor to Qantas, which retains 63% of the domestic market. The developments blindsided SIA, which was understood to be moving towards securing a 51% holding in the Australian carrier, Capa said. "That no longer seems a realistic option and perhaps puts an end to SIA's longstanding aspirations to own a dominant minority of the Australian market," Capa said. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2016-06-21/star/the-one-that-flew-away-sias-big-miss
https://portal.staralliance.com/imagelibrary/logo.png
The one that flew away: SIA's big miss
SIA missed out on an opportunity to take control of Virgin Australia after it was blindsided by Virgin's tie-up with Chinese conglomerate HNA Group, according to Capa. A recent announcement by Virgin said it was selling a 13% stake to HNA, which the group is expected to top up to 19.99%. Also, Air NZ, another stakeholder in Virgin Australia, said it was selling a 19.98% stake to China's Nanshan Group. The deals will ensure Virgin remains a viable competitor to Qantas, which retains 63% of the domestic market. The developments blindsided SIA, which was understood to be moving towards securing a 51% holding in the Australian carrier, Capa said. "That no longer seems a realistic option and perhaps puts an end to SIA's longstanding aspirations to own a dominant minority of the Australian market," Capa said. <br/>
