Branson expects to firm Indian venture within six months

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Virgin Atlantic Airways chairman Sir Richard Branson is seeking to fulfil his ambition of investing in an Indian carrier within the next six months.

Branson has been looking to inject up to $50 million into an Indian domestic airline in a personal capacity as under Indian aviation rules foreign airlines are prohibited from holding stakes in their Indian counterparts.

Speaking to ATI in Nassau during the carrier’s inauguration of its new London Gatwick-originating service to the Bahamas and the Cuban capital Havana, Branson said: “It looks more likely than not. If it’s going to happen it will happen within the next six months.”

Branson declines to identify companies in which he might be willing to invest.