Investors pump in funds, loans and deferrals alongside Branson’s £200m injection
Virgin Atlantic has announced a £1.2bn rescue deal to allow Sir Richard Branson’s grounded passenger airline to survive another 18 months of turmoil and aim to return to profit in 2022, after four months without scheduled flights.
The privately funded recapitalisation package, a combination of cash injections, loans, and deferrals, was finally confirmed on Tuesday after weeks of talks with potential investors, after Virgin’s attempts to garner state support were rebuffed.
Continue reading…Investors pump in funds, loans and deferrals alongside Branson’s £200m injectionCoronavirus – latest updatesSee all our coronavirus coverageVirgin Atlantic has announced a £1.2bn rescue deal to allow Sir Richard Branson’s grounded passenger airline to survive another 18 months of turmoil and aim to return to profit in 2022, after four months without scheduled flights.The privately funded recapitalisation package, a combination of cash injections, loans, and deferrals, was finally confirmed on Tuesday after weeks of talks with potential investors, after Virgin’s attempts to garner state support were rebuffed. Continue reading…