Virgin Atlantic chairman Richard Branson will invest in Indian carriers in his personal capacity to overcome regulatory restrictions on foreign airlines investing in domestic airlines. The present policy does not permit foreign carriers to invest in domestic airlines.
"We are in talks with existing domestic airlines and also those who want to enter the airline business. We will be happy to take 25 per cent or 49 per cent. We have quite good expertise in running domestic carriers," Branson said.
Branson also wants to branch out into the telecom sector in India. He said the Virgin Group had started discussions with some Indian companies.
"We will be glad to have a licence of our own. But we can suggest we want to ride piggyback on those already having their own networks and we offer them services," he said, adding that negotiations are at a very early stage.
Asked if he would resume the codeshare arrangement with Air-India if he failed to get bilateral air traffic rights for Indian operations, Branson said 42 flights would now operate on the India-UK sector.
"We have already applied for seven flights each to Mumbai and Delhi and some to Bangalore out of the new rights granted by the Indian government," he said.
He said he would move the British government also to get an equitable share in the Indian market, which was now dominated by Virgin's competitor British Airways.
Additional flights between India and the UK will help push fares down and get more people to travel.
Virgin, which started its operations in the country through a codesharing agreement with Air-India in July 2000, has now increased its flights on the Delhi-London sector from two to three.
Branson is visiting India to attend a programme of the Loomba Trust of the UK, which is a charity that supports disadvantaged children. Virgin is the first corporate sponsor of the trust.
The Virgin group has 350 companies including health club, hotels and mobile phone business in different parts of the globe including UK, Australia and Africa.
