18 January 2011

Sir Richard Branson, the founder and President of Virgin Atlantic Airways, has said he plans to reach an alliance agreement for the airline within a year; he does not foresee forging any deal that would end his control of the airline.

 Virgin Atlantic has operated as an independent airline since it was founded in 1984. Virgin Group has a 51% stake in the carrier, with the remaining 49% held by Singapore Airlines. Sir Richard hired Deutsche Bank AG to explore the airlines’ options after British Airways won approval to boost transatlantic cooperation with American Airlines.