| Journal: TWUK | Section: |
| Title: | Issue Date: 26/06/00 |
| Author: | Page Number: 6 |
| Copyright: Other |
Continental supports Virgin stance
CONTINENTALAirlines has thrown its support behind codeshare partner Virgin Atlantic in backing calls for a loosening of restrictions on airline ownership.The US carrier’s chairman and chief executive Gordon Bethune claimed the 25% limit on foreign ownership of US airlines hampered growth and harmed passengers.
In a speech to the UK Aviation Club, he said: “Airlines are handicapped because outdated laws limit their access to the foreign equity markets and prevent them achieving true global networks, which customers demand. US airlines need to have the ability that exists in other businesses.”
Virgin chairman Sir Richard Branson has demanded the right to buy a US carrier for domestic flights. Bethune suggested foreign carriers should be able to buy 49% of a US airline.
Continental’s chairman also asked for Heathrow access for his carrier. Currently it is restricted to Gatwick and only sells Heathrow by taking seats on Virgin flights.