If Singapore Airlines (SIA) can get $350 million for their 49% stake in Virgin Atlantic Airways I think they will be happy with that. Now they may try to hold out for more, arguing that SIA is so profitable and has so much money in the bank that it doesn't need to sell the stake cheaply. But the fact is Virgin Atlantic is an underperforming investment for SIA and that if it sells out now, it mitigates longer-term risk. Virgin Atlantic is a loss-making carrier in need of fleet renewal.
The other problem for SIA is it has no control over Virgin Atlantic. That means they are vulnerable to the whims of Richard Branson. Now don't get me wrong. Branson is more than capable of managing Virgin Atlantic. But I am sure SIA would like to have more of a say in how the airline is run.