Singapore Airlines now ready to shed off its stake in Virgin

A news: After selling off majority of its stake in Virgin Atlantic, Singapore Airlines has said that airline is always ready to shed off remaining part as well. The comment was made after there were news reports that said that there was another potential bid for the airline.

SIA currently has 49 per cent of the shares under its name. The stake was taken up by the company in year 2000.

The situation came up after both the parties saw a long span of time of strained relationship. While news reports confirmed that statement, IA VP-Public Affairs Nicholas Ionides said that 'no such' decision has been taken about further divestment.

Earlier this on SIA's new CEO, Goh Choon Phong had said in an announcement that organizational restructuring is taking place at present and that it is going to align the firm's commercial, operational and corporate planning activities.

As from February 1, Executive Vice President for Commercial, Mak Swee Wah will be looking after all the activities related to marketing and sales and also delivery and services.

HR issues are going  be taken care by Executive Vice President for Human Resources and Planning, Ng Chin Hwee. Besides this, a separate section for corporate planning will also be opened.