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Branson says Virgin would 'have a look' at SAA stake if asked

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Richard Branson has said Virgin Atlantic would be open to buying an equity stake in struggling South African Airways. "So if we were approached by the SA government, we’d definitely have a look." (www.fin24.com) More...

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patpylot
patrick baker 2
why would he take on this loser, without the full authority to remedy the situation? I don't see him having conversations with the majority owners ( the government) about necessary changes to fix or to improve the airline. Pass on this sir richard
VivPike
Viv Pike 2
SAA needs somebody to take charge. Branson could be the guy.
mbrews
mbrews 1
- Respectfully disagree. Branson needs to remember his own words, and keep away from this failing enterprise. Branson's statement was : The best way for a Billionaire to become a Millionaire is to buy an airline.
VivPike
Viv Pike 1
Not many of his investments have failed. He cannot buy out the airline, he could only (possibly, if the SA government agrees to sell), get an equity stake. SA gov't will always own at least 51% of the airline. Buy a stake (say for example, 30 or 40%) when it is at a low value, he might make a few quid if and when it improves. Maybe a decent cash injection, and some decent management input, would turn it around. The government has repeatedly said that they would not allow it to fold. Just my 2 cents worth.
keithhadden
Keith Hadden 1
The level of corruption needs to be addressed. We have seen the depth of it during the Zondo Commission into State Capture. Branson's cash injection may just disappear into thin air.
patprendergast
pat prendergast 1
Thank You Colin, I thought he sold it to Lufthansa!
wlwl
Johnny Law 1
I say Virgin needs to relocate to Manchester- Branson needs to see to it instead of meddling in the affair of others.
ianmcdonell
ian mcdonell 1
Virgin Australia is rapidly going broke - perhaps he could get re-involved over here?
patprendergast
pat prendergast 1
I thought Branson has sold his interests in Virgin Atlantic?
ColinSeftel
Colin Seftel 1
Pat, Virgin Atlantic is owned by Delta Air Lines (49%), Air France-KLM (31%) and the Virgin Group (20%).

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