Etihad interested in Virgin Atlantic
24.01.11
The head of Etihad Airways has written to Virgin Atlantic to express ‘top level interest’ in taking over the airline, according to a report in the Sunday Times. Sir Richard Branson’s airline hired Deutsche Bank in November last year to look at options for the airline, which could include a merger or takeover. He said at the time that he thought the airline needed a partner or 'big brother' in the wake of the transatlantic deal agreed by BA, Iberia and American Airlines.
Etihad, which is based in Abu Dhabi and is chaired by Sheikh Hamed bin Zayed Al Nahyan, refused to confirm the reports. A spokesman told the Sunday Times: ‘We have no comment other than that we talk regularly and frequently to many airlines and a range of other businesses from all over the world about business issues and opportunities.'
Virgin said it continued to work with Deutsche Bank to assess growth opportunities. ‘This study is at a very early stage so there is no further comment to make at this time,’ a spokesperson said in an e-mail. Virgin Group currently owns 51 percent of the airline, with the remaining 49 percent owned by Singapore Airlines.
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