Singapore Airline buy 10% stake in Virgin Australia

[mhm]

Singapore Airlines has bought a 10% stake in Virgin Australia, as competition heats up in the Australian aviation market.

Singapore Air will spend A$105m ($108m; £68m) on the deal, Virgin said in a statement.

The tie-up comes after Qantas announced a potential alliance with Dubai's Emirates.

Global airlines have increased cooperation as rising fuel prices and competition have hit profits.
http://www.bbc.co.uk/news/business-20133348