ALASKA AIR GROUP is to buy Virgin America for $2.6 billion, which will make it the top carrier on the US west coast. Richard Branson, who started the airline in 2007 as an off-shoot of his UK-based Virgin Group, will get a cash windfall of approximately $550 million from the sale.
The deal will create the fifth-largest US airline after a decade of mergers that have shrunk the industry to a handful of companies. The top four control more than 80 percent of the US travel market.
Go Holiday news : www.govillasandcottages.co.uk
The deal will create the fifth-largest US airline after a decade of mergers that have shrunk the industry to a handful of companies. The top four control more than 80 percent of the US travel market.
Go Holiday news : www.govillasandcottages.co.uk
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