Branson reverses plan to sell 31% of Virgin Atlantic to Air France-KLM
Virgin Atlantic chairman Richard Branson has scrapped plans to sell 31% of the airline to Air France-KLM as originally agreed as part of the transatlantic joint venture among the two companies and Delta. Branson holds 51% of the UK-based long-haul specialist, with Delta holding the remaining 49%. Under the JV, Branson was to sell a 31% stake to Air France-KLM. The transatlantic JV was approved by the US Department of Transportation Nov. 22. “Importantly following this news, we have agreed (subject to contract) with our new joint venture partners, that our family will continue to hold the 51% of Virgin Atlantic shares we own,” Branson said. Branson, who founded the airline 35 years ago, said he had “always viewed Virgin Atlantic as one of my children” and was reluctant to part with it.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-12-04/unaligned/branson-reverses-plan-to-sell-31-of-virgin-atlantic-to-air-france-klm
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Branson reverses plan to sell 31% of Virgin Atlantic to Air France-KLM
Virgin Atlantic chairman Richard Branson has scrapped plans to sell 31% of the airline to Air France-KLM as originally agreed as part of the transatlantic joint venture among the two companies and Delta. Branson holds 51% of the UK-based long-haul specialist, with Delta holding the remaining 49%. Under the JV, Branson was to sell a 31% stake to Air France-KLM. The transatlantic JV was approved by the US Department of Transportation Nov. 22. “Importantly following this news, we have agreed (subject to contract) with our new joint venture partners, that our family will continue to hold the 51% of Virgin Atlantic shares we own,” Branson said. Branson, who founded the airline 35 years ago, said he had “always viewed Virgin Atlantic as one of my children” and was reluctant to part with it.<br/>
