Let BA go bust - Branson
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Sir Richard Branson has urged the British government not to bail-out struggling national carrier, British Airways (BA). According to a report in The Times of London Branson, founder of BA’s biggest commercial rival, Virgin Atlantic, said that “it would not be in Britain’s interest” for the airline to receive state financial aid.
“We and others are standing by ready to take on their routes and runway slots at Heathrow if they get into serious trouble. I thought the US government’s bail-out of the car companies was a bad idea and it’s the same for BA,” Branson was reported saying.
The entrepreneur cheekily added that Virgin had looked at a bid for BA, but concluded that the company’s liabilities were too great. “It’s not worth much anymore because of the liabilities. We were thinking about if the shares went under 100p, but it would be better to wait for its demise,” he said.
BA responded angrily to Branson’s comments. A spokesperson was reported saying; “This is fantasy. There are no talks with government, and there will be no talks. We have opposed state aid and our position has not changed.”
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