Virgin Atlantic in Advanced Alliance Talks, Branson Say

Virgin Atlantic, the airline controlled by U.K. billionaire Richard Branson, is in “fairly advanced talks” to join an aviation alliance as the carrier seeks to boost its competitive position and restore earnings.

“Virgin Atlantic has always enjoyed its independence, but since pretty well every competitor that we have has an alliance I think we have finally decided that to survive we need to have an alliance,” Branson said in an interview with Bloomberg Television in Mumbai today. He declined to name the group the London-based airline is speaking with.