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Gold/Mining/Energy : Bombardier, maker of planes and trains and other things

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To: Martin A. Haas, Jr. who started this subject	6/13/2001 9:30:56 AM
From: xtahce	Read Replies (1) of 1177

Virgin Air may purchase Bombardier corporate jets KEITH McARTHUR Wednesday, June 13, 2001 TORONTO -- Sir Richard Branson's Virgin Atlantic Airways may buy corporate jets from Montreal-based Bombardier Inc. for a proposed fleet of planes that would offer exclusively business-class service. Virgin said the new fleet would allow it to offer scheduled service from London to markets in North America and Asia that are too small for its regular service. The order could be as small as three Global Express ultra-long-range aircraft, or could be much larger, a company official said. Virgin Atlantic is also in discussions with Boeing Co. of Seattle and Airbus Industrie of Europe. Sir Richard was in Toronto yesterday to publicize Virgin Atlantic's Toronto-London service, which was launched yesterday. The airline's parent, Virgin Group PLC, already operates Bombardier passenger trains. "They also produce superb planes," Sir Richard said. "Obviously it would be nice if we could buy Canadian when we're in Canada." Sir Richard said he expects the Toronto-London route to be profitable within four years. He also said the airline will continue to pursue new opportunities in the Canadian market. "I would be saddened if we were not flying direct to Vancouver in three years," he said. Sir Richard said he is still interested in starting up a low-cost domestic airline in Canada, which could compete with Air Canada, WestJet Airlines Ltd. and Canada 3000 Inc. "Air fares are high in Canada and we believe people domestically would benefit from more competition." Ownership rules in Canada prohibit foreign-owned airlines. But Sir Richard said he hopes to convince Ottawa to change the rules. He launched Virgin Blue, an Australian airline, after that country loosened ownership rules. Sir Richard said governments need to ensure that there is competition to small markets, even if these routes require subsidies. news.globetechnology.com

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