Virgin ‘seeking Indian airline’
Virgin has expanded its airline interests overseas in recent years
Virgin Group is holding talks with Indian airlines about the possibility of taking a 49% stake in some carriers.
British billionaire Richard Branson said his company was “planning to do a lot in India”, but did not specify which airlines it was speaking to.
India’s Air Deccan said in August it had held exploratory talks with Virgin Blue, Virgin’s Australian subsidiary.
In addition to its majority stake in Virgin Atlantic, Virgin also has shares in Belgian and Nigerian carriers.
It is also setting up a no-thrills airline in the US.
Government limit
“Virgin Group are in discussions with a number of domestic airlines about taking 49% stakes in airlines,” said Mr Branson.
He added that Virgin Group was also in talks with other Indian companies about non-airline business ventures.
The talks with Air Deccan were abandoned in the summer because of the Indian government’s current 40% limit on foreign ownership in Indian airlines.
Virgin Atlantic is 51% owned by the Virgin Group, and 49% by Singapore Airlines.
By: Blackcat - 14th November 2004 at 20:13
$hit… thats what the Govt is doing , selling off to Virgin … after all the liberalisation is all abt this…… making the multinationals get hold off all the stuffs at the cheapest rate.
And the $ucking Indian govt had no need to devalue the Indian Rupee as per the Unkils aka WB instruction…the result is that Indian Oil bill is huge and can’t devote much to national stuffs after paying oil bills, but at the same time what earlier a a dollar cud buy, now it buys nearly 4 times the stuffs makinfg the Dollars from outside see as Godly stuff.
And the Govt says FDI is important, I say those $ucking $astards need to leard how to develop a formula for ur nation rather than what their western dadies write for those moles in the high seats.
it wud have been pretty good if the Indian Govt raised the valus from the current exchange rate to nearly 30Rs to a dollar like the Russian exchange rate, or say like 8yauns to a dollar like the Chinese one.
But the Chinese is not possible, so it wud have been good if the Govt reduced it to nearly 30-35 from the nearly 50 currently as that wud shrink the Oil bill and will have more money for home stuffs.
By: Blackcat - 14th November 2004 at 20:13
$hit… thats what the Govt is doing , selling off to Virgin … after all the liberalisation is all abt this…… making the multinationals get hold off all the stuffs at the cheapest rate.
And the $ucking Indian govt had no need to devalue the Indian Rupee as per the Unkils aka WB instruction…the result is that Indian Oil bill is huge and can’t devote much to national stuffs after paying oil bills, but at the same time what earlier a a dollar cud buy, now it buys nearly 4 times the stuffs makinfg the Dollars from outside see as Godly stuff.
And the Govt says FDI is important, I say those $ucking $astards need to leard how to develop a formula for ur nation rather than what their western dadies write for those moles in the high seats.
it wud have been pretty good if the Indian Govt raised the valus from the current exchange rate to nearly 30Rs to a dollar like the Russian exchange rate, or say like 8yauns to a dollar like the Chinese one.
But the Chinese is not possible, so it wud have been good if the Govt reduced it to nearly 30-35 from the nearly 50 currently as that wud shrink the Oil bill and will have more money for home stuffs.
By: Rb340 - 13th November 2004 at 18:08
More the fact that Virgin wants 18 of the 21 available slots to india up for grabs, and teaming up with and indian airline would help virgin with connections within the country . Apparently BA’S service to mumbai made 35 million profit compared to an average of 7 for any other long haul route, Branson smells the money
By: Rb340 - 13th November 2004 at 18:08
More the fact that Virgin wants 18 of the 21 available slots to india up for grabs, and teaming up with and indian airline would help virgin with connections within the country . Apparently BA’S service to mumbai made 35 million profit compared to an average of 7 for any other long haul route, Branson smells the money
By: KabirT - 13th November 2004 at 16:03
good vision by Sir Branson, the Indian and Chinese civil aviation markets are blooming.
By: KabirT - 13th November 2004 at 16:03
good vision by Sir Branson, the Indian and Chinese civil aviation markets are blooming.
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November 13, 2004 at 3:04 am