AFP

Virgin Atlantic airline says lands £1.2bn rescue deal 14 July 2020 - 16:30

Virgin Atlantic, an airline part-owned by British tycoon Richard Branson, said Tuesday it had secured its future thanks to private recapitalisation worth £1.2 billion ($1.5 billion, 1.3 billion euros)."Virgin Atlantic has reached a major milestone towards securing its future today, by announcing plans for a private-only solvent recapitalisation... following the severe impact of the COVID-19 pandemic on the global economy, the nation and the travel and aviation industry," it said in a statement.

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