Virgin Atlantic chief Richard Branson said today that a proposed merger of British Airways and American Airlines, the world's largest airlines, would threaten the survival of rivals, including his own carrier.
The proposed merger 'will be absolutely disastrous' for consumers, travel agents and the industry, he said.
'It will be the end of red-hot competition,' the flamboyant British tycoon head of the Virgin Group said at the National Press Club in Washington.
Asked about the impact of the merger on his own airline if it wins regulatory approval, Branson said: 'I cannot guarantee Virgin Atlantic's survival if BA and AA are allowed to merge. It would be very, very difficult,' he added.
Branson said he was in Washington to put the finishing touches on Virgin Atlantic's 'final submission' to the US Department of Transportation to try to block the proposed merger of BA and AMR Corporation's American Airlines announced last July.
'It doesn't make sense to actually encourage even less competition by allowing the two largest dominant carriers to increase their stranglehold by setting price together and agreeing schedules,' Mr Branson said.
