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Virgin Blue: Up for grabs
A key aide to Richard Branson on Sunday said that up to 49 per cent of Australian-based carrier Virgin Blue was for sale in order to shore up the British billionaire`s Virgin Atlantic brand.
A key aide to Richard Branson on Sunday said that up to 49 per cent of Australian-based carrier Virgin Blue was for sale in order to shore up the British billionaire's Virgin Atlantic brand.
Chief executive of Virgin Blue, Brett Godfrey, confirmed that the Australian domestic carrier sought a "cornerstone investor" to take up a 49 per cent stake in the airline.
He said that negotiations had begun with "around a dozen" consortiums to buy a chunk of a budget carrier that has already become Australia's second-ranked domestic airline.
Asked during an appearance on the Business Sunday program here if Branson "needs money at the moment because of the problems Virgin Atlantic is having", Godfrey said "that's probably a fair deduction, and frankly he would need some money".
"The reality is if Atlantic has gone through a bit of a difficult period - they are down about 20 per cent in terms of their capacity and everything."
Virgin Blue displaced Ansett Airlines as Australia's second-biggest carrier after the latter collapsed in September beneath debts hovering around the $1 billion-mark.
Bureau Report
Chief executive of Virgin Blue, Brett Godfrey, confirmed that the Australian domestic carrier sought a "cornerstone investor" to take up a 49 per cent stake in the airline.
He said that negotiations had begun with "around a dozen" consortiums to buy a chunk of a budget carrier that has already become Australia's second-ranked domestic airline.
Asked during an appearance on the Business Sunday program here if Branson "needs money at the moment because of the problems Virgin Atlantic is having", Godfrey said "that's probably a fair deduction, and frankly he would need some money".
"The reality is if Atlantic has gone through a bit of a difficult period - they are down about 20 per cent in terms of their capacity and everything."
Virgin Blue displaced Ansett Airlines as Australia's second-biggest carrier after the latter collapsed in September beneath debts hovering around the $1 billion-mark.
Bureau Report