Virgin Atlantic airline says lands £1.2bn rescue deal

AFP

14th July, 2020 07:58:27 printer

Virgin Atlantic airline says lands £1.2bn rescue deal

Virgin Atlantic, an airline part-owned by British tycoon Richard Branson, said Tuesday it had secured its future thanks to private recapitalisation worth £1.2 billion ($1.5 billion, 1.3 billion euros).

"Virgin Atlantic has reached a major milestone towards securing its future today, by announcing plans for a private-only solvent recapitalisation... following the severe impact of the COVID-19 pandemic on the global economy, the nation and the travel and aviation industry," it said in a statement.


Top