July 14, 2020 / 10:34 AM / a month ago

Virgin Atlantic to clinch $1.5 billion rescue deal - Sky News

Virgin Atlantic's planes are seen parked at Manchester Airport, following the outbreak of the coronavirus disease (COVID-19), Manchester, Britain, May 9, 2020. REUTERS/Phil Noble

LONDON (Reuters) - British airline Virgin Atlantic is close to securing a 1.2 billion pound ($1.5 billion) rescue deal, Sky News reported on Tuesday, removing the medium-term chance of administration as a result of the coronavirus crisis.

The deal, which will involve backing from Richard Branson’s Virgin Group and hedge fund Davidson Kempner, could be confirmed later on Tuesday, Sky News said. A spokeswoman for Virgin Atlantic declined to comment on the report.

Reporting by Alistair Smout

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below