Radarspotting

Virgin Atlantic: Delta buys 49pc stake as Richard Branson bets £1m on brand's future

Sir Richard Branson kept control of his airline Virgin Atlantic following a £224million deal with Delta Air Lines.

Delta bought Singapore Airlines' 49 per cent stake in the business, but it means that Virgin holds on to the brand name and operating certificate.

Sir Richard said the airline would retain its 'independent spirit'.

Speculation about the deal sparked a war of words earlier this week between Sir Richard and Willie Walsh, chief executive of BA-owner IAG.

Mr Walsh predicted the Virgin brand would vanish if the deal with US airline Delta was agreed.

But Richard Branson has challenged Willie Walsh to a £1million bet on the future of Virgin Atlantic.

The multi-millionaire, who began Virgin Atlantic with one plane 28 years ago, responded to comments made by Mr Walsh that he believed the brand would soon disappear from the skies.

But Mr Branson called on British Airways to put its money where its mouth is.
http://metro.co.uk/2012/12/10/richard-branson-challenges-rival-british-airways-to-a-1million-bet-3310506/

Wonder if willie will take up the bet

Old news. Dateline 10.12.2012.