AIRLINES

Virgin Atlantic to Buy Out Shareholder: Richard Branson, chairman of Virgin Atlantic Airways, said he has privately agreed to buy out the carrier’s only outside shareholder, Japanese hotel and supermarket group Seibu Saison. “The 20% shareholding they had in the airline, we have just brought back in-house,” Branson said on BBC-TV’s “The Money Program.” “I think for the time being, it would make sense to be fully in control.” The program said Branson is investing $169 million to expand Virgin Atlantic, $66 million of which is being used for the share buyback. The money is also being used to recruit 500 new employees and equip six new planes to extend Virgin’s services to new long-distance routes, starting with Hong Kong and San Francisco next year, the BBC program said.