BRANSON WILL ALWAYS RETAIN A STAKE IN VIRGIN ATLANTIC

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By TESTCustomwebLP TESTCustomwebLP June 17, 2011 13:24

BRANSON WILL ALWAYS RETAIN A STAKE IN VIRGIN ATLANTIC

Richard Branson, president of Virgin Atlantic Airways, has stated that he is still considering whether to sell part of his 51% stake in the 25-year old airline. However, he admitted that he will always retain a stake in the airline he started. “Virgin Atlantic was very much my baby and now she’s a very beautiful young lady,” Branson said. “I will always remain a major shareholder in this airline.”

Last year, Branson hired Deutsche Bank to review alliance options last year but has yet to make a final decision. Although he confirmed he been approached by some alliances and would probably “sell a few shares” to facilitate joining one, he admitted his preference would be for Singapore Airlines to reduce its 49% share.

The fact that Branson remain determined to hold onto at least a part of Virgin Atlantic means he will struggle to relinquish enough control to attract partners and investment, says Bloomberg.

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By TESTCustomwebLP TESTCustomwebLP June 17, 2011 13:24
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