BELGIAN carriers Virgin Express and SN Brussels Airlines announced last week a provisional deal to harmonize their operations with a joint venture that might give Virgin Atlantic boss Richard Branson a way out of what has been a less than fruitful investment. The carriers have signed a non-binding letter of intent to combine the two airlines but retain separate legal and operational entities. The joint venture would offer two brands, Virgin Express a budget carrier and SN Brussels as a full service airline which has recently gone in a different direction to most by introducing upgraded meals on its short haul services). Virgin Express would retain its stock market quotation. Belgian interests controlling SN Brussels would own 70.1% whilst Virgin will retain the 29.1% balance. SN Brussels has confirmed an EU0.6m profit for 2003 (loss EU36.7m 2002) but Virgin, which reported a small profit in 2002, is expected to post a loss for last year.
http://www.flysn.co.uk
http://www.virgin-express.com