Business Services Industry
Virgin Atlantic's Richard Branson seeks stake in domestic Indian airline.
Knight Ridder/Tribune Business News, November, 2004
By James Quinn and Ray Massey, Daily Mail, London Knight Ridder/Tribune Business News
Nov. 13--Virgin Atlantic boss Sir Richard Branson wants a stake in a domestic Indian airline as part of his plot to spoil British Airways' plans.
BA wants the 21 weekly direct flights up for grabs to India -- it could produce a 200 million pounds profit over the next three years.
But Branson wants 18 of the slots and is in talks to take a 49 percent stake in at least one internal Indian carrier to allow Virgin customers to travel within the country.
Branson said: "We are planning to do a lot in India." Virgin is in talks with other Indian companies about non-airline ventures.
His comments came at the Civil Aviation Authority's...
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