Search This Blog

Saturday, June 2, 2007

Jamaica Gleaner News - Air Jamaica made 5.1 million pounds sterling on Virgin deal - Saturday | June 2, 2007

Jamaica Gleaner News - Air Jaica made 5.1 million pounds sterling on Virgin deal - Saturday June 2, 2007: "Brushing aside suggestions that the deal was undervalued, Air Jamaica yesterday revealed that it earned about 5.1 million ($688 million) from the recent sale of its London route to Virgin Atlantic.
The airline said it also stands to earn additional revenue from the transaction, based on tickets already sold.
.........................................Two weeks ago, The Gleaner broke the news that the airline was in negotiations with British Airways (BA) and Virgin Atlantic to divest its London route. Yesterday, Dr. Davies said the nod was given to the Richard Branson-owned airline purely as a business decision."