Richard Branson 'sad' at £2.8bn sale of Virgin America

Billionaire says there was nothing he could do to stop Alaska Air buying out company

Virgin America plane
(Image credit: Justin Sullivan/Getty Images)

Sir Richard Branson says he is sad at the news that Virgin America, the budget airline he launched in the US market nine years ago, has been sold to rival Alaska Air.

The boards of the two companies have unanimously approved a $2.6bn (£1.8bn) buyout offer, which, when debt and airplane leases are taken into account, equates to a total value for the business of $4bn (£2.8bn).

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