Virgin settles name row

NEW YORK (Reuter) - A lawsuit brought by Virgin Island-based Virgin Air against Britain's Virgin Atlantic Airways has been settled out of court, Virgin Atlantic said.

It said Virgin Air had agreed to change its name and to dismiss all charges of trademark infringement and unfair competition, against Virgin Atlantic, run by Richard Branson. Virgin Atlantic has agreed to make a contribution of dollars 30,000 to assist Virgin Air with the costs incurred by the name change.

Virgin Air's new name will be Air St Thomas.