Virgin Group, which owns Virgin Atlantic Airways, has confirmed that it has sold its 10% stake in AirAsia X to existing shareholders.
“Virgin Group has a large number of new and exciting investment opportunities in development. We now prioritize resources where we can have the most impact and also use the Virgin brand,” the company said in a statement.
“While AirAsia X has been a very successful investment for us, it does not use the Virgin brand and we feel it is the right time to exit to focus on our branded portfolio. We are proud to have worked with [AirAsia CEO] Tony [Fernandes] to develop the initial business case for AirAsia X and wish them well for the future.”
Virgin Group sells AirAsia X stake
