Branson welcomes ‘extremely beneficial’ Virgin Atlantic deal
Air France-KLM is to buy almost a third of Virgin Atlantic, leaving Sir Richard Branson’s parent company, Virgin Group, with a minority stake.
Sir Richard promised to remain ‘very much involved’ once the deal is concluded.
Air France-KLM is taking a 31% stake, worth £220m, in Virgin Atlantic as part of a four-way joint-venture with US partner Delta.
Virgin Group’s share will fall from 51% to 20%, while Delta will retain 49%.
He said the new joint-venture would be ‘extremely beneficial’ to the airline.
Air France-KLM, said customers would get ‘even more choice between Europe, UK and the United States via twelve hubs on both sides of the Atlantic’ following the deal.
Lisa
Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.
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