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Lenders to Virgin Atlantic Airways have drafted in City advisers as they brace for the impact of a restructuring of Sir Richard Branson's flagship company

Lenders to Virgin Atlantic Airways have drafted in City advisers as they brace for the impact of a restructuring of Sir Richard Branson's flagship company

On this day in 2006, the Virgin Atlantic Global Flyer arrived at our Udvar-Hazy Center to join our collection. Steve Fossett flew it on the first nonstop, solo flight around the world without refueling: #IdeasThatDefy 

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Exclusive: Lenders to Virgin Atlantic Airways have drafted in Deloitte to advise them on their exposure to the troubled airline as it continues parallel discussions with the government and private investors about a £500m-plus rescue package.

Coronavirus: Virgin Atlantic lenders brace for restructuring hit

Virgin Atlantic has announced it won’t resume flights until August ‘at the earliest’

Virgin Atlantic says the government's approach to introducing a mandatory 14 day self-isolation for travellers entering the UK will "prevent flights from resuming and there simply won’t be sufficient demand to resume passenger services before August at the earliest"

BREAKING: Virgin Atlantic says with government restrictions in place there will not be demand to resume flights before August at the earliest. Sky's @adamboultonSKY  has the latest. Get the latest on #coronavirus :

Virgin Atlantic says plans for 14-day quarantine for travellers “will prevent flights from resuming"

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JCPenny in bankruptcy. J Crew in bankruptcy. Neiman-Marcus in bankruptcy. United Airlines bond deal flops. Airplanes are not good collateral. Branson says Virgin Atlantic might not make it. 50%-90% of tenants not paying rent. Wave of bankruptcies coming.

As Virgin Atlantic announces plans to cut 3,000 jobs, Richard Branson says it was either that or sell his island, which would be a shame as he’s just had a new jetty installed.

Richard Branson is seeking a buyer for Virgin Atlantic Airways after he was unable to secure a 500 million pound government bailout, the Telegraph reports

£500 million for Virgin Atlantic? Why, when climate change says we should cut flying? And why when Branson has run from offshore, putting two fingers up to the state, for decades? Nationalisation, and all his businesses coming onshore should be a condition of any support

Sky News understands the bosses of Virgin Atlantic will write a letter to Prime Minister Boris Johnson saying the UK airline industry needs £7.5bn in government aid due to the impact of covid-19

Virgin Atlantic says it plans to ground 75% of its fleet by 26 March adding staff will be asked to take eight weeks unpaid leave during the next three months

BREAKING: Virgin Atlantic plans to cut about 80% of flights each day by the 26th of March, grounding 75% of planes by then. They are also asking staff to take 8 weeks of unpaid leave during the next three months. More on #COVID19  here:

There is absolutely no case for bailing out airlines. Banks should support the likely survivors and let the rest go to the wall, including Virgin Atlantic if its shareholders won't cough up the necessary. Others will soon take their place once the pandemic subsides

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