This has just come over the news on TV. Singapore Airline is buying 49% of Virgin in a deal worth £600 million. Branson obviously is keeping 51% and this retains overall control of the airline.
He is quoted as saying: This is a great day for all of us at Virgin Atlantic and for the travelling public. As our route networks do not overlap we can come together to offer a much wider choice of destinations.
Apparently when the deal has been completed Branson will invest in Singapore Airlines.
This also means that Virgin Atlantic is going to be allowed into the Star Alliance and gives Singapore Airlines more slots at Heathrow Airport.
Virgin Atlantic has been valued at £1.2 billion.