Branson aims to retain control of Virgin Atlantic

Sir Richard Branson, owner of Virgin Atlantic, says he intends to stay a majority shareholder in the airline, but it would "make sense" to have a partner for the business.

Richard Branson: Virgin Atlantic's majority shareholder
Richard Branson: Virgin Atlantic's majority shareholder

Branson, in an interview on Bloomberg Television's 'Bloomberg West', said: "It makes sense for Virgin Atlantic to have a partner.

"I will certainly still be extremely involved in the airline, whatever we decide to do, and I will still be a major shareholder."

Branson owns a 51% stake in Virgin Atlantic, which he founded in 1984. Singapore Airlines owns the remaining 49%.

Branson said Virgin was in discussions with "various people", and would wait to see what came from the talks.

He said: "We have received offers, but it's too soon to say more."

Virgin Atlantic hired Deutsche Bank last November to examine the aviation market and the airline's position within it.

In September last year, British Airways, Iberia and American Airlines received clearance to co-operate on transatlantic flights and, in January, the merged BA and Iberia business, International Airlines Group (IAG), began trading.

Branson said: "We've said we would like to bring in an alliance partner to combat the fact that British Airways is tied up with American Airlines.

"I think we will be able to announce within a few months an alliance partner."

Subscribe to Campaign from just £57 per quarter

Includes the weekly magazine and quarterly Campaign IQ, plus unrestricted online access.

SUBSCRIBE

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Share

1 Meet the new breed of ad agency chiefs

A new wave of first-time CEOs are opting to do things differently in an evolving landscape. They discuss the business model of the future with Jeremy Lee.

Case study: How 'This girl can' got 1.6 million women exercising
Shares0
Share

1 Case study: How 'This girl can' got 1.6 million women exercising

"This girl can" was based on a powerful insight: that the fear of judgement by others is the primary barrier holding women back from participating in sport.

Just published

More