Virgin Atlantic considering three ‘alliance’ offers
27.05.11
Virgin Atlantic founder Sir Richard Branson is in talks with three potential suitors and is likely to reach a decision on a partnership sometime in the next quarter, Bloomberg reports. He said last night in an interview in Chicago: ‘Discussions with two or three parties are progressing. Within the next two or three months we should be clear on whether there’s an alliance we’re happy with or not.’
Sir Richard hired Deutsche Bank AG to assess Virgin Atlantic’s strategic options after rival British Airways was given permission to boost cooperation on key transatlantic routes with American Airlines. He said that while joining an alliance is essential, it is not yet clear whether he will sell down his 51% stake (Singapore Airlines own the other 49%). He said: ‘I’ve always made clear that I would still be very much involved. My principal interest is in the alliance. If it means selling shares, we’ll consider that.’
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