Us discount airline
Virgin plans to launch low-cost US airline
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Sir Richard Branson is reportedly planning to set up a "quality low-cost" airline in the US during 2004.
The Virgin group has proposed launching the new airline by the end of June 2004 and it will compete with JetBlue and Southwest airlines. The new carrier is expected to be similar to Australian discount carrier Virgin Blue, and will launched with a fleet of 10-15 aircraft, expanding to 30 aircraft within about 18 months.
Virgin will have an economic interest of up to 49% in the airline, in order to meet US aviation laws, while a number of institutional partners are expected to be involved in the venture, Reuters reported.
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