British billionaire Richard Branson has said that Virgin Group was talking to domestic Indian airlines about taking a 49-percent stake in some carriers.
"We are planning to do a lot in India. Virgin Group are in discussions with a number of domestic airlines about taking 49 percent stakes in airlines," Branson told a flight capacity hearing, Friday, before Britain's aviation regulator.
He also said Virgin Group was in talks with other Indian companies about non-airline business ventures.
Branson owns 51 percent of Virgin Atlantic Airways and Singapore Airlines holds 49 percent.
Branson's Virgin Group considers India and China its two most important markets for expansion.
Indian no-frills carrier Air Deccan said in August it had held exploratory talks for a partnership with Australia's Virgin Blue Ltd., in which Virgin Group owns about 25 percent.
It said at the time that the talks were abandoned because India failed to raise its limit on foreign ownership in its airlines to 49 from 40 percent.
Virgin Atlantic is pursuing airline deals elsewhere as well, sealing a deal in September with Nigeria to set up a new airline following the collapse of the African nation's flagship carrier last year.
Virgin Atlantic will own 49 percent of Virgin Nigeria.
Virgin Group owns listed low-cost airlines in Belgium and Australia and is also setting up a low-cost carrier in the United States.
By: N. Peter Kramer
