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Air France-KLM is buying 31% of Virgin Atlantic

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Air France-KLM is buying almost a third of Virgin Atlantic, leaving Sir Richard Branson's parent company, Virgin Group, with a minority stake in the airline he founded. Air France-KLM is taking a 31% stake, worth £220m, in Virgin Atlantic as part of a four-way joint-venture with US partner Delta. Virgin Group's share will fall from 51% to 20%, while Delta will retain 49%. Sir Richard said he would remain "very much involved" after the deal. He said in an open letter that the new joint-venture would be "extremely beneficial" to the airline, customers and the brand, and recalled key moments in Virgin Atlantic's history, striking a valedictory tone. Jean-Marc Janaillac, chief executive of Air France-KLM, said the deal would give customers "even more choice between Europe, UK and the United States via twelve hubs on both sides of the Atlantic".

About the author

Philip Scott

Head of Equities, Director

Philip has worked as a Private Client Stockbroker for nearly 20 years, commencing his career in Operations with Rensburg Sheppards (now part of Investec plc) before spending 9 years with Killik & Co advising on and directly managing portfolios. He joined SI Capital in 2006 to head up the Private Client Advisory desk.

Philip is a regular contributor to local media commenting on stock market dynamics and is a Chartered Member of the Chartered Institute for Securities & Investment (MCSI). His RDR qualification gained special recognitionfrom the CISI for achieving the highest combined pass mark in the country for the Investment Advice Diploma in 2012.

“At SI Capital I enjoy being part of a talented team who collectively share the same desire to provide excellence in service.  My focus is to ensure that each client receives effective and optimal management of their assets.”

Philip lives locally, is married with 2 daughters and is an avid sports fan (if now predominantly from the sidelines).  His other interests include music and film.

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