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EC CLEARS SINGAPORE AIRLINES’ PURCHASE OF STAKE IN VIRGIN ATLANTIC

EC CLEARS SINGAPORE AIRLINES’ PURCHASE OF STAKE IN VIRGIN ATLANTIC

   The European Commission has cleared the proposed acquisition by Singapore Airlines of a 49-percent stake in Virgin Atlantic Airways.

   The EC did not raise any competition objections, saying that the airlines’ activities are largely complementary.

   The transaction will give Singapore Airlines, together with Virgin’s holding company Barford Services, joint control over Virgin Atlantic Airways, the EC said. Virgin Atlantic Airlines focuses primarily on long haul international flights and has a fleet of 29 aircraft. Singapore Airlines

operates a global network of scheduled air transport and has a fleet of 97 aircraft.