Goh Choon Phong, the new CEO of Singapore Airlines, has stated the airline is considering selling its 49% stake in Virgin Atlantic. The outgoing CEO Chew Choon Seng called SIA’s investment “underperforming” even so no final decision has been made. If SIA sells its stake, the airline would be free to focus all of its efforts on the burgeoning Asian market and step up to the threat posed by the increase in low cost carriers in the region such as Jetstar.
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