Branson: Recession is a Good Time to Expand

" Celebrating 25 years of flying passengers across the pond and back and the airline's founder sir Richard Branson commemorated historic milestone. By announcing a two billion dollar deal won't have further expand his empire to Richard Branson is here with me now -- for. Fox kids video and it's very -- lesson so you've purchased now six different aircraft leased for two billion dollar investment in times like this that's quite a surprise like you do."

" That. Well. -- and a Virgin Atlantic had 25 fantastic years. Not in Los that we. Make make good profits which I think that's like -- stunned everybody. I think people seem to seek out this and to enjoy enjoy flying the airline. We want to expand so. And I think that's in times of recession is a good time to respond because the price of planes that as less. It it if you prosecute with less than -- much it's -- it's quite a good time to respond."

" You definitely different -- your selves from the pack because we talked here in the United States about perhaps upwards of nine billion dollars in airline losses this year. When you're chief competitors British Airways is feeling the heat in the pressure. Are you in the man or is it the wrong thing to allow the government stepped in and help them. --"

" Joey seems to be in in in quite serious couple of today that they've they've said that today. Are in and in -- not to crisis that process stuff not to take any. Any summary a tool for months I've -- senate. That that there -- quite big trouble we we've gone -- government and said if if British Airways Airbus we should be. They should be allowed to get us they shouldn't be bailed that the government and it had. The -- go back in the post should go to lunch they couldn't get up and start talking -- a European airline and and and utilize that flotsam. The government gets taken out a statement saying that. I should should. Bridge that was run into trouble they would not. Give them any money."

" Presents an opportunity for you tell me what what that would do in terms of the mix of your business and some of that. This -- some of the positions that you would take over into the short term flight."

" Like British Airways were to go bust it is an enormous opportunity not just for us but for other. -- areas as well because -- a dominant at Heathrow they sits on. The minutes of the slots at Heathrow. It is that we could we could do triple the size of our -- and and I think -- would the other airlines that would also come in and you know take take take up the slack so I didn't traveling public would would suffer at school because. You know they've had years of building up over its building up costs. Actually bite you -- because coming in and taking over those votes the cost base and got it done and that threatening efforts to get done."

" You know one minute fifty the airlines is keeping interest in this BM -- on top seriously has the state has a lot of rumor that Lufthansa would increase that stake. But you see a strategic opportunity here tell me why."

" If we can't get voted -- place votes may decide not going to cost. And then BMI is an opportunity for virgin T McCain started -- let them which we don't have in Europe. That you know they have a good European airline. Pageant I think has a very good local airline. If you could put the two together that we got an open up many -- is that competition issues. It would it would it would benefit Virgin Atlantic today."

" We talked to act as I mentioned the beginning there that -- projected to be over nine billion dollars in losses in the airline industry. Oil prices have had a nice rise over the past couple months. What do you guys doing right -- to make sure that you replicate the success the cat in a very challenging environment."

" Well we've we've got a number of different airlines. Which were involved in the that we have a at stake in virgin America which is -- domestic airline here and in America which is. Doing fantastically well and and it's just -- and the reason it's doing well it's it's been voted. -- best deadline back on the that's probably the best business that line. And I and so I think if you if you -- great that the best in any sector of you the best -- the best rests on the best clubs the best that line. You'll you'll do well even even in these dark times. If somebody just sent me. An email today say they wanted to get a -- and virgin America was full which is in which -- time it was the good sign and the son of unusual in these difficult times but. The people that people are seeking it out then there and they sold back to Atlantic had over the last 25 years which. -- cement is it's survived and try."