Business Worldwide Magazine

Sir Richard Branson to take massive cut from Virgin America Sale

Though he claims not to be happy about it, but as Alaska Air prepares to acquire Virgin America, Sir Richard Branson is set to gain roughly $800 million from the deal. Virgin America is the low cost carrier of the Virgin Group, and it operates in the United States and Mexico. It’s to be bought over by Alaska Air. Launched in 2007, Virgin America has benefitted from revolutionary tactics, which made it highly competitive and a consumer favourite.

Sir Branson said the non-US shareholder cap of 25 percent restricted his influence in the company, so there wasn’t much he could do to halt the deal. This is one of the more successful and lucrative sales Sir Richard has made over the years, following hits such as the sale of Virgin Records, the part-trade of Virgin Atlantic, and flops such as Virgin Megastore.

 

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