Virgin Blue Holdings Ltd does not have to cede the leisure market to its competitors as it chases more high-paying corporate travellers, the airline's senior executives say, writes Jordan Chong and Drew Cratchley of AAP.

Virgin Blue's group executive commercial Liz Savage said on Tuesday there was "no reason" give up leisure travellers in its bid to muscle in on Qantas Airways Ltd's dominant market share among business and corporate travellers.

Ms Savage said the airline group, which comprised Virgin Blue, Pacific Blue, Polynesian Blue and long-haul offshoot V Australia, was aiming for the "middle ground".

"We've made no secret of the fact that we are chasing a share of that lucrative business market, an increasing share, but at the same time preserving our foothold, our very strong foothold we enjoy today in the leisure space," Ms Savage told Australia Pacific Aviation Outlook Summit in Sydney.

"There is no reason to give that up."

Qantas holds about 90 per cent of the corporate travel market, with Virgin Blue on about 10 per cent.

Ms Savage said the airline group had a modest target of doubling that share over the next year.

Separately and at another event, the head of the Virgin Group, Richard Branson, ruled out offloading any part of Virgin Blue.

"No plans to sell any stake to anybody, that's all I can say at this stage," Sir Richard said in response to a question about whether there were any plans to sell his company's stake in Virgin Blue to Air New Zealand Ltd.

However, Virgin Blue's chase for the top end of town could open a gap in the domestic market for a new entrant to exploit, the chief executive of the Malaysian-based, low-cost carrier for AirAsia X said.

"There is a potentially a bit of a vacuum," Mr Azran Osman-Rani told the conference.

"Suddenly, if you have a situation where there is more demand than supply, maybe that is an opportunity."

AirAsia X started flying to Australia about two and a half years ago and operates from Kuala Lumpur to the Gold Coast, Melbourne and Perth.

Mr Osman-Rani said he was optimistic the airline would be granted approval by the Malaysian government to start flights to Sydney some time in 2011.

Virgin Blue chief executive John Borghetti, a former Qantas senior manager who took on the role in May, has commenced a review of the airline's route network and implemented a new organisational structure that includes bringing the loss-making V Australia back within the main airline group.

V Australia, which flies from Australia to South Africa, Thailand, the US and Fiji, commenced operations in March 2009 but was yet to move into profitability.

Ms Savage reaffirmed the Virgin Blue's commitment to flying internationally.

"Virgin Blue certainly sees a very strong international network, be in on our own metal, on our own aircraft or be it through a virtual network of alliances and airline partnerships, as being really really vital to strength in the domestic market and to our strength as an airline business," she said.

©2010AAP