SIR
In a blog post, the billionaire entrepreneur said he will keep hold of his 51 per cent stake in the company, rather than selling 31 per cent to the continental giant.
Branson agreed a £220m deal with the Franco-Dutch group two years ago, in a move that would have left the airline's founder with just a 20 per cent stake. At the time, Virgin and US airline Delta were pursuing a three-way joint venture with
He said Brexit and the devaluation of the pound had forced him to consider offloading part of the firm.
However, this has changed, and Delta and
The trio's partnership, which was approved by US regulators last month, will still go ahead.
Branson added: "Just like in 2008, we're at a point in time where we need to stand up for fair competition for the benefit of British customers and businesses."
(c) 2019 City A.M., source