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  • 04.04.16

Richard Branson is not happy about Virgin America’s sale to Alaska Air

British billionaire Richard Branson, founder of Silicon Valley-based Virgin America, is sorely disappointed about his airline’s proposed merger with Alaska Air Group. “There was sadly nothing I could do to stop it,” Branson wrote in an open letter.

I would be lying if I didn’t admit sadness that our wonderful airline is merging with another. Because I’m not American, the US Department of Transportation stipulated I take some of my shares in Virgin America as non-voting shares, reducing my influence over any takeover. So there was sadly nothing I could do to stop it.

The merger still must be approved by U.S. regulators and Virgin America shareholders.

RP