Billionaire Richard Branson has scrapped plans to sell his stake in Virgin Atlantic. Branson will instead retain control and expand the airline he founded, thus abandoning a two-year plan to sell part of the airline to the Air-France KLM group. Air France-KLM, Delta Air Lines and Virgin Atlantic signed a joint venture agreement signed in which Air France-KLM would acquire a 31% stake in Virgin Atlantic for £220 million. Under the deal, Virgin Group would retain a 20% stake and chairmanship of Virgin Atlantic. Delta would retain its 49% stake. Branson said in a letter posted on the company’s website:

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