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-- airlines are flying high well not many of airline fuel stays at three dollars a gallon about -- industries bill for 2011.
It's going to be 54 billion dollars but the -- -- so differently from my next guest joining us live from Miami.
Sir Richard Branson virgin group chairman thanks for joining us it's great to have you had to have somebody questions for -- -- personality you're celebrating.
The fact that's up between London and Miami it's been 25.
Years for you congratulations on that having said that.
High fuel costs are suddenly affecting the airline you're looking for more regulation in the oil industry what do you want to see happen.
What I -- -- -- -- -- with the celebrating.
Two and 25 years in this industry which.
Is is a top indices has great great -- I think to pull that off.
Oil crises and WikiLeaks.
Material from Saudi Arabia.
-- -- between Saudi Arabia in America.
And it's not the saudis.
I'm very glad that that that -- all -- something like forty dollars a barrel war -- oil.
-- to the speculates is.
Speculating on oil speeches and what you know what we basically saying is -- it should cod drive is should and line you see is that you have people -- that homes be.
Grossly overspending just because people -- Speculating on -- pushing prices up.
On two levels way above what they should -- We're urging regulators to -- and do do that you'll probably.
Okay well I I'm sure that they talked about it is while that has certainly affected the bottom line for virgin America.
Having said that the airline has hedged at least 50% for 2011 -- so you're making a Smart business move there and you've also got these new fuel efficient engines that -- introduced that are going to be coming out of the next several years so it a -- from a business side of business perspective.
Do you find that because you're making these moves now that you're not as concerned about profitability of virgin America in particular.
At the virgin America is it is a -- -- -- line is the best that I am in it and not I'm not by us.
-- flying flying inside America.
It -- it's it's it's doing great and we just sort of deny that sixty planes.
We just I was in Chicago a couple of weeks ago it just started.
Reached for them as LA to Chicago -- -- -- the Chicago area.
And -- I think because they're great quality airline because it's brand new planes because they don't -- lists that fuel efficient planes.
I think I think virgin America can.
In -- grown into a political force here in the states.
-- let's talk about.
About another type of travel in this country and that of course is our rail system.
I'm curious as many Republicans in Washington are talking about potentially opening up the northeast corridor which is all Amtrak right now you know.
Opening up to potential private bidders.
Would the virgin group be interested in making a bid.
For rail line to the United States.
We would be and -- and we've already said that we you know we we we would be keen to get them both and -- in America.
We have perhaps the most successful.
Rail network in the UK.
We managed to increase the amount it.
Rail travel is from fifteen million.
A year when we took it out of -- 235.
Million this yeah.
And save you if you -- ready good quality Rel network.
You can get people off the roads and -- -- rail.
And and and that's good for the environment is good for everybody says it yeah we'd -- to get out teeth -- -- Into the realm met with him in the US than I have the advantage and -- -- as well as virgin planes again.
Well you've -- you've been successful in the UK and -- a compliment to your success obviously we have trains that are going 85 miles -- -- they're going more than 200 miles per hour.
And -- in Europe there's a bit of the difference there you know I'm curious what you would do how would you change.
A rail system in this country.
But that we might well do bring in the same kinds and trains that we brought him from -- to the UK.
High speed tilting trains this -- around.
Cohen is very quickly that you see you you know Larry it's -- underneath you're still sitting space and -- puppeteers is still site.
And you know and has and that means you -- if you can get high speed trains you can get a lot more -- on on the track.
You can get a lot more passes is on the track you can bring -- -- down.
You can bring quality up.
And you know that and and and set -- -- an America that's what's needed that.
Is that we've we knew we'd love the challenge.
Missed it and if if if it would it would it would it would -- just failed to show show show off what we can do.
Part of America and if people like it we might take it to other parts of America will -- -- Or let you guys thinking of America again -- congratulations.
On the celebration down in.
Miami and you happen expanding.
The airline -- in the United States do you think they're going to be expanding more opening more cities in the US -- share.
Yes -- in -- and I'm -- you know we'll we'll we'll be flying brilliant putting -- -- frequencies tuned -- of the cities we already fly and I cinematic will be flying to look a lot of you new cities.
And then you know we we we would we would we would like to to put in -- would have a sixty new planes which and and and -- is that.
Picking up the -- we already -- -- and I know what was that open up new destinations that.
-- -- -- exciting time ahead I think from lines than.
And then it was back in Australia ties in neatly across the Pacific and into Australasian.
When we got a great great and I know -- -- majors -- that.
This in Atlanta this study 25 years ago with 12 and seventh was seven is now perhaps the best label label -- sentences in his site.
-- rewriting your autobiography that you got it is our airlines because you're here -- for stranded -- think a lot of people look in this country say they wish they would have had.
That idea but you've been very successful out -- thank you for coming on the Fox Business or Richard Branson virgin group chairman.
Thanks very much not --
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