Branson says Government should not bail out ‘worthless’ BA
21.06.09
Sir Richard Branson has urged the Government not to contemplate a bail-out of British Airways, saying the struggling flag carrier is almost worthless, the Telegraph reports. He said Virgin Atlantic had considered making a bid for BA, but ruled it out on the grounds that its liabilities were too significant.
Sir Richard said it would ‘not be in Britain's interests’ for the Government to step in, adding that Virgin Atlantic and other airlines were ready to take on BA's routes and slots at Heathrow. A BA spokesman said his comments were ‘fantasy’ and the airline was, in any case, opposed to state aid.
The Telegraph adds that Willie Walsh, BA chief executive, has taken the 'highly unusual step' of refusing to go before the House of Commons Transport Committee to give evidence for a hearing next week on the future of aviation while he focuses on the ‘exceptionally difficult trading environment’. The committee has excused him from appearing. He did have time to go to an airline conference in Malaysia and an aviation lunch in New York in recent weeks.
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