SIA

SIA: Acquiring another 9.9% stake in Virgin Australia, raising it's total stake to 19.9%. The total consideration for the 9.9% stake would be A$122.6m (A$0.48/share). SIA last acquired a 10.0% stake in Virgin Australia for a total of A$105.3m (A$0.4288/share) back in Nov 2012. The two airlines entered into a long-term partnership in 2011, encompassing codesharing, reciprocal frequent-flyer programme benefits and lounge access, coordinated schedules to provide seamless connections, and joint sales, marketing and distribution activities. SIA trades at 0.97x P/B.