£100m windfall for Richard Branson

Richard Branson is in line for a £100m (€145.33) personal windfall today when he issues the prospectus for the stock market flotation of his Australian airline, Virgin Blue.

The company is expected to be valued at up to £1bn(€1.45), with Branson reducing his stake from 46% to between 25% to 30% while his local partner, Patrick Corporation, will hold some 45%.