Virgin Atlantic is a public limited company as they sell their shares. Virgin Group sold a 49% stake in the airline to Singapore Airlines in 1999 for £600 million. On 11 December 2012, Delta Air Lines confirmed the purchase of Singapore Airlines’ 49% stake in Virgin Atlantic for £224 million, with future plans to develop a transatlantic joint venture. Regulatory approval from the United States and European Union was granted on 20 June 2013,42and the purchase was completed on 24 June. Virgin Atlantic liability is limited as it is a private limited company meaning the owners are legally responsible for its debts only to the extent of the amount of capital they invested.