Virgin Atlantic Says Several Parties Are Interested in Tie-Up

Virgin Atlantic Airways, the airline that said six months ago it is interested in a merger deal, has attracted approaches from several parties.

"We've received a number of lines of enquiry," Virgin spokesman Greg Dawson said in a statement, according to Bloomberg News.

Deutsche Bank AG's work on the plan will take a number of months and it's "far too early" to give details, Dawson said.

Dawson confirmed the discussions after Sky News reported that Delta Air Lines (DAL) was exploring a deal with Virgin.

Sponsored Links
Virgin is looking to boost its transatlantic operation to cope with increased competition from British Airways Plc and American Airlines (AMR). British billionaire Richard Branson owns a majority stake in Virgin Atlantic while Singapore Airlines also owns part of the company.

Virgin Atlantic is not part of the big three global alliances of carriers.

"Virgin Atlantic has got to be in some sort of alliance to get critical marketing mass," said Andrew Miller, chief executive officer of CAPA Consulting LLC. "In the new world where airlines are struggling to survive, doing it alone is going to be difficult"


Read Full Story

Markets

DJIA 21,716.33 5.32 0.02%
NASDAQ 6,357.36 -65.39 -1.02%
S&P 500 2,466.12 -11.71 -0.47%
NIKKEI 225 20,079.64 29.48 0.15%
HANG SENG 27,131.17 190.15 0.71%
DAX 12,212.04 -93.07 -0.76%
USD (per EUR) 1.17 0.00 -0.34%
USD (per CHF) 0.96 0.01 1.28%
JPY (per USD) 111.02 -0.10 -0.09%
GBP (per USD) 1.31 0.00 -0.25%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.