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Virgin Australia is the country's second
biggest airline after market leader Qantas.
Virgin Australia has sold a 10% stake to
Singapore Airlines, in an attempt to better compete with Qantas Airways in the
Australian market. Singapore
Airlines, the world's second largest carrier, will spend A$105m ($108m; £68m)
on the deal, Virgin said in a statement.
Abu
Dhabi's flag carrier, Etihad, already has a minority stake in Virgin. Global
and domestic airlines have increased cooperation as rising fuel prices and competition
hurts profits.
BBC News
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