Deals
Billionaire Branson Waves Goodbye to His ‘True Love’ (Almost)
- Billionaire says stake sale to Air France guarantees future
- BA chief Walsh claims arch-rival’s maverick days are over
Flights Operated By British Airways Carry Passengers At Heathrow Airport
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Billionaire Richard Branson says he’s ceding control of Virgin Atlantic Airways Ltd. so that the carrier can join what it claims will be “the most significant joint venture in aviation.” For Virgin, the deal may be as much about gaining a lifeline after years struggling to keep up with British Airways.
Branson, 67, said in an open letter when Air France-KLM Group announced the purchase of 31 percent of Virgin Atlantic on Thursday that the deal, tied to an expansive trans-Atlantic alliance, will allow the U.K. carrier to “prosper and grow” in coming decades “as I get a little older.”