Singapore Air invites offers for Virgin stake

SINGAPORE, May 14 (Reuters) - Singapore Airlines (SIAL.SI: Quote, Profile, Research), the world's second-biggest airline by market value, said on Wednesday it was open to offers for its 49 percent stake in Richard Branson's trans-Atlantic airline Virgin Atlantic [VA.UL].

"It's not a secret that we regard it as an undeperforming investment. We are still reviewing our plans and are open to all offers," Singapore Airlines Chief Executive Chew Choon Seng told a results briefing.

Chew also said the company faced no shareholder pressure to cut its stakes in aircraft maintenance firm SIA Engineering (SIAE.SI: Quote, Profile, Research) and groundhandling firm Singapore Airport Terminal Services (SATS) (SIAT.SI: Quote, Profile, Research) but was reviewing those holdings at regular intervals. (Reporting by Daryl Loo & Jan Dahinten)