Virgin America’s long-awaited unveiling of its US investors will take place this month, says minority shareholder and Virgin Atlantic Airways chairman Sir Richard Branson, writes Victoria Moores in Nassau.
The US start-up should be ready to launch in the first half of 2006, although no date has been set, he adds. The low-cost airline was originally supposed to begin services at the end of 2003.
Speaking at the launch of Virgin Atlantic Airways’ London Gatwick service to Cuba and the Bahamas, Branson said: “It has taken slightly longer than thought to get suitable investors because we are giving away control of the Virgin brand in the USA. We’ve got to pick someone who can do the job well.”
But he said the Virgin America project, which requires funding of $150 million, has had no shortage of willing investors. “We’ve got all the investors together, but we haven’t announced who [they are],” he said. The investors will be named this month, after which the application process for an air operator’s certificate can begin.
But Branson is not as certain about the carrier’s launch. “That I don’t know, but I’ll be extremely distressed if it’s not some time next year,” he said.
Source: Flight International
