In term's of SQ's relationship with VS after SQ's divestment, SQ said they will still continue their partnership with VS:

"Commercial arrangements between Singapore Airlines and Virgin Atlantic, encompassing codesharing, frequent-flyer programme ties and reciprocal lounge access, are expected to remain in place after the divestment."

http://www.singaporeair.com/jsp/cms/...s/ne121212.jsp

Did anyone else find it strange that skyteam wasn't mentioned directly during the whole DL buys 49% of VS thing? I know at this point it's obvious that virgin atlantic will likely join skyteam, but I couldn't help but find it peculiar that there was no mention of "and virgin atlantic will be joining skyteam in x months." Perhaps it's because SRB still retains control and they want to hear it come from him first.

They might not have decided to. Afterall, VS never joined Star (although that might not have been through their choice if something I read recently was correct) despite the fact that SQ owned that 49%.

While most people seem to agree that it's getting harder to survive as a non-aligned airline, particularly since the ME airlines now seem to be aligning, VS still may feel they are better operating outside an alliance framework.

I agree, DL JV and connections give VS everything good that could come from an alliance, whereas alliances have heavy costs. While I was all in favour of VS becoming an alliance member, now the DL deal is in place maybe it's no longer necessary?

At the press conference, Virgin all but announced that they are planning on joining Skyteam. I imagine there are a lot of details that they need to work out before they can make a formal announcement.