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4-Dec-2019 3:10 PM

Branson family retains majority shareholding in Virgin Atlantic, tie up with Air France-KLM approved

Virgin Group founder Richard Branson announced (03-Dec-2019) his family will retain a 51% shareholding in Virgin Atlantic following discussions with the airline's JV partner Air France-KLM. Sir Richard also confirmed the US Department of Transportation granted antitrust immunity to the new joint venture on 21-Nov-2019. He commented: "To get the deal done, we initially thought our family would need to reduce its shareholding in Virgin Atlantic. I was willing to do so, reluctantly, to guarantee the long term success of Virgin Atlantic. I'm delighted to say the tie-up was approved by various competition authorities... We'll [Branson family] also continue to work extremely closely with our partners investing together in a thriving airline and holiday company". [more - original PR]

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