Singapore Airlines will buy an additional 9.9 percent stake in Virgin Australia, taking its total shareholding in the Australian airline to 19.9 percent.
Singapore Airlines will buy 255.5 million shares held by the Virgin Group at 48 Australian cents per share, which puts the total value of the deal at about $126 million US Dollars.
Singapore Airlines had acquired a 10 percent stake in Virgin Australia in October 2012. The two airlines also have a number of bilateral agreements including those on codesharing, reciprocal frequent-flyer program benefits, lounge access sharing and joint sales, marketing activities.
Travelers wanting to combine a trip to Australia with stops in additional countries can use the relationship between Singapore Airlines and Virgin Australia to fly from North America to Singapore and on to Australia, returning directly from Brisbane, Melbourne or Sydney to Los Angeles and their home.