VIRGIN ATLANTIC TO RECEIVE £1 BILLION BAILOUT.

Virgin Atlantic is working to secure a deal worth £1 BN. The package includes a cash injection from Richard Branson, whom has previously stated that he is not able to provide any cash support to any of his airlines.

Virgin Atlantic Vs Government

Since the start of the covid-19 pandemic Virgin `Atlantic has been requesting for bailout funds from the UK government, all requests have been denied. However, this weekend the airline has been working hard to negotiate a bailout with major US-based payments group. With the global aviation industry facing a crisis like no other, governments across the world have been supporting their airlines. Nevertheless, the UK government has taken a completely different approach and has not approved any bailout requests-which has lead to the collapse of Flybe.

Credits-Instagram|@heathrow__planespotter

Verdict by Tuesday

This is welcome news and could be confirmed as early as tommorow (14/7/20). The deal is for a period of four years and it aims to ensure the airline’s survival, even if it can’t fly to the US before 2021; which is where most of its destinations lie.

Credits-Instagram|@heathrow__planespotter

If this Bailout can be secured it will protect many jobs within the airline, which has already cut 3,150 jobs to date withdrawn from London Gatwick and has been shrinking the size of its fleet. What do you think about this news? Let us know in the comments.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: