Branson rules out bid for BA
Monday, 22 Jun, 2009
0
Virgin Atlantic founder Sir Richard Branson has ruled out bailing out troubled British Airways.
He distanced himself from media speculation that his airline would attempt to save its loss-making rival if it feel into further difficulty.
Sir Richard was quoted by the BBC as he prepared to mark the 25th anniversary of Virgin Atlantic by retracing the carrier’s first flight from London to New York (Newark).
He said BA’s pension burden would prevent Virgin Atlantic from mounting a takeover.
However, Sir Richard said that if BA were to fail, his airline and others would take up the slots at Heathrow that would become available and attempt to lower fares.
Sir Richard also predicted that first class air travel would disappear due to the recession.
BA lost £401 million in its last financial year and staff have been asked to work for nothing for a month. Pilots have agreed a pay cut in return for shares in the carrier.
by Phil Davies
Phil Davies
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Marginal increase for New York City tourism in 2025
Hands In, UATP join forces for airline multi-card payments