7-Apr-2011 12:25 PM

Virgin requires partner to compete with BA: Branson to remain 'major shareholder'

Virgin Atlantic Airways founder and Virgin Group Chairman Sir Richard Branson stated the carrier needs a partner to compete with British Airways and that he plans to stay a “major shareholder” in the carrier (Bloomberg, 07-Apr-2011). Sir Richard stated the carrier has seen some offers without elaborating further. Deutsche Bank is conducting a review into the future of the carrier. 

Virgin Group: “It makes sense for Virgin Atlantic to have a partner as well. I will certainly still be extremely involved in the airline, whatever we decide to do, and I will still be a major shareholder. We are in discussions with various people and will see what comes out of it. We have received offers, but it’s too soon to say more,” Sir Richard Branson, Chairman. Source: Bloomberg, 07-Apr-2011.

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