Richard Branson said Virgin Group was talking to Indian domestic airlines…
Richard Branson said Virgin Group was talking to Indian domestic airlines- without mentioning any names- about buying half stakes in carriers as part of plans to invest heavily in the nation`s fast-growing economy. Branson, highlighted India and China as his two biggest potential markets.
Virgin has a history of taking half-stakes in offshore airlines as last September took a 49 percent share in a new Nigerian airline, which will fly under the Virgin brand and was set up following the collapse of the African nation`s flagship carrier last year.
Virgin, which has a code-share with India`s international flag carrier Air-India Ltd., has been looking to expand its services to India for several years but has been prevented by the lack of bilateral flying rights.