Seattle-based Alaska to pay $2.6bn for Virgin budget airline,which flies to 21 destinationsSir Richard Branson will receive a cash windfall of approximately £550m from the sale of Virgin America, the US budget airline the British billionaire launched in 2007, or to Alaska Air. The Seattle-based airline said it agreed to pay $57 (£40) a share,or $2.6bn, in cash for Virgin America, or which flies to 21 destinations within the US and Mexico. Including Virgin America’s debt and aircraft operating leases,the deal is valued at $4bn.
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Source: theguardian.com