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Britain clears Virgin Atlantic's £1.2 bn rescue
AFP
| 2020/09/03 | 324 words
| LE JOURNAL DE L'AVIATION | AIR TRANSPORT
Britain's High Court on Wednesday cleared a £1.2-billion rescue of struggling airline Virgin Atlantic, part-owned by British tycoon Richard Branson and which has been hit badly by the coronavirus pandemic.The private recapitalisation, worth $1.6 billion or 1.3 billion euros, was approved by the carrier's creditors last week.The Virgin Atlantic rescue deal was launched in July following a drastic jobs-slashing overhaul as the pandemic decimated travel demand and grounded most passenger jets ...(…)
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