Sir Richard Branson is in talks with Brazilian partners to start an airline in Latin America's largest country, the Agencia Estado news service said today. The airline would be a kind of 'Virgin Brazil' and would start out with domestic flights, although it may later expand with international destinations, Sir Richard told reporters at the Global Humanitarian Forum in Geneva.
Agencia Estado quotes Sir Richard saying: 'Brazil is a very dynamic market and we haven't paid enough attention to it in the past. We know there is a lot of room to grow given the country's size and the need to develop the air transportation system for Brazil's own growth.'
He said the talks are ongoing and he expects an announcement soon. Brazil's civil aviation laws cap foreign ownership of domestic airlines at 20 percent. |
