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Richard Branson to pump another 100 million into Virgin Atlantic
Just a few months after securing a £1.2 billion bailout, Virgin Atlantic Airways is in talks for more funds worth up to £160 million.
Sky News reports that Virgin Atlantic is close to tying up new funding with shareholders which will include a £100 million loan from Virgin Group.
Creditors are apparently in support of the deal. About £60 million of further deferrals will go to Virgin Atlantic to maintain its cashflow while it waits for travel curbs to end.
"We continue to bolster our balance sheet in anticipation of the lifting of international travel restrictions during the second quarter of 2021," an airline spokesperson said.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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