NEWS: Virgin Gets Closer to the US

Richard Branson confirmed yesterday that he is in the final stages of securing the financing required for his low cost US airline. Major backing has not been announced but he wants to get his airline off the ground (get it?...off the ground...nevermind) this year so things should start falling into place quickly. I'm not sure how I feel about this. The market is so capacity overloaded that I wonder about the need for another carrier. But with so many majors on the brink of being sucked into the abyss he must see an opportunity to wedge himself into the market. JetBlue proved that a well funded start up with a decent business plan could carve out a niche. I am sure that Virgin US (or whatever it will be called) will be well funded and Branson seems to have a formula for success. So we'll just have to sit back and watch.