Air France-KLM is buying almost a third of Virgin Atlantic, leaving Sir Richard Branson’s parent company, Virgin Group, with a minority stake in the airline he founded. Air France-KLM is taking a 31% stake, worth £220m, in Virgin Atlantic as part of a four-way joint-venture with US partner Delta. Virgin Group’s share will fall from 51% to 20%, while Delta will retain 49%. Sir Richard said he would remain “very much involved” after the deal. He said in an open letter that the new joint-venture would be “extremely beneficial” to the airline, customers and the brand, and recalled key moments in Virgin Atlantic’s history, striking a valedictory tone. Jean-Marc Janaillac, chief executive of Air France-KLM, said the deal would give customers “even more choice between Europe, UK and the United States via twelve hubs on both sides of the Atlantic”.

Vistry expects to pay modest dividend, with house sales up 20% over past six weeks
Private sales per outlet per week increased by 15% in the second half Vistry Group