'Asia does not need Virgin brand'

Putrajaya: British billionaire Sir Richard Branson, founder and head of Virgin Group Ltd, said he had no plans to introduce the Virgin brand in Asia, ceding the market to AirAsia’s already established presence.
"AirAsia has already built a strong brand name (as a leading low-cost carrier) and AirAsia X will be a strong brand as well.
"We don’t need the Virgin brand for this region," he said at an event to announce Virgin’s entry as a new shareholder in long-haul budget carrier AirAsia X.
He said AirAsia Bhd group chief executive officer Datuk Tony Fernandes has had "phenomenal success" in the short-haul Asian routes.
"I am thrilled to be able to support AirAsia in this venture and look forward to seeing low-cost, long-haul travel being opened up from their base in Malaysia," Branson said.
Branson’s Virgin bought a 20 per cent stake in Fly Asian Xpress Sdn Bhd (FAX), the operator of AirAsia X.
11/08/07 New Straits Times, Malaysia

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Categories: Foreign Aug 2007, Low Cost General Aug 2007, New Aug 2007