Delta nearing $300-$500 million deal to buy Singapore's piece of Virgin Atlantic
Skift Take
The expected proportions of the deal mean that Delta would be getting a significant discount compared with what Singapore Airlines paid for its stake in Richard Branson's Virgin Altantic.
Delta Air Lines Inc. (DAL) is nearing a deal to buy a 49 percent stake in Virgin Atlantic Airways Ltd. from Singapore Airlines Ltd. (SIA) and may pay less than $500 million for it, three people familiar with the matter said.
The price range is $300 million to $500 million and an agreement may be announced this week, said the people, who asked not to be identified because the talks are private.
Singapore Airlines paid 600 million pounds for the Virgin Atlantic stake in 1999, or about $966 million now.
Delta and Virgin Atlantic may seek a joint venture on trans-Atlantic routes as part of the arrangement, two of the people said. Virgin Atlantic’s base at London Heathrow airport is a gateway for flights across the North Atlan
