Richard Branson has set his sights on conquering the cruising industry. According to a report on Sky News Virgin is already in the process of raising capital for its latest venture.
The company has appointed US advisory firm, Allen & Co, to oversee the development of its cruising initiative and sources reveal that Virgin’s executive team and advertisers have begun discussions with banks to raise around $1 billion (R10.1 billion) to finance Virgin’s first vessels.
The new cruise line is expected to operate under ‘Virgin Cruises’ and, though still in the very early stages, will aim to compete with industry heavyweights.
- Debbie Badham
