fb
Home                 Offers & Booking                 Disney Tickets                 WDW UK Guide                 Disney Reviews                 Article Archive


Virgin Atlantic Gets £1.2bn Rescue Deal Covering 18 Months

News

Virgin Atlantic Gets £1.2bn Rescue Deal Covering 18 Months

[UK] Virgin has secured a £1.2billion rescue deal from its creditors which spans over the next 18 months, saving the airline for now.


The BBC has reported Virgin Atlantic has won backing from its creditors for a £1.2billion rescue plan that will secure its future for at least the next 18 months.

Virgin is using this rescue plan to rebuild its balance sheet so it can welcome passengers back, and give confidence to future bookings. Virgin was on the brink of bankruptcy as they were due to run out of cash by September 2020.

This deal includes £400 million in cash (half of which will come from its main shareholder, Sir Richard Branson's Virgin Group), as well as negotiations with banks, shareholders aircraft owners, and suppliers who they owe money. Virgin has previously announced 3,500 job cuts, but they have said the remaining 6,500 jobs should now be secure.

Walt Disney World Early Booker Package For 2022 Stays Now Booking
Book a 2022 Walt Disney World stay and get up to $950 FREE DINING credit, $200 gift card & more.
Click here for full information and to search dates for this free dining offer >>

Book a 2022 Walt Disney World stay and get up to $950 FREE DINING credit, $200 gift card & more

Click here to search your dates and book your 2022 free dining offer >>


Join the Mickey From The UK email club & never miss any of our Disney content
Tick the box to confirm you want to opt into our emails
(Your email will never be shared, sold or spammed as outlined in our privacy policy. Only Disney goodness you'll receive.)
This article was posted on 25-Aug-2020

            submit to reddit

Read Next  View More >
Bookings For Mears Paid Magical Express Alternative Service Delayed 18+ Guests Must Be Fully Vaccinated To Go On Magic At Sea UK Disney Cruise ... Disney`s Hotel New York - The Art of Marvel Opening June 21st Disney Removes Face Covering Requirement Outdoors

Mickey From The UK
UK Disney World Community
Who Are We?

Email Subscribe Facebook Facebook Twitter Instagram

Disney World Early Booker Package For 2022 Stays Now Booking


Walt Disney World FREE DINING CREDIT + free gift card offer for 2022


Up to $950 dining credit, $200 gift card, free amendments, low deposit, & more
Click here to book now >>

Flights Cheap Orlando Flights Search >>
Search for the cheapest MCO flights





'Mickey From The UK' is an unofficial privately owned Disney and Walt Disney World community website.
© MickeyFromThe.UK . All Rights Reserved. Content cannot be reproduced without permission.

Email Club       About       Contact Us       Advertising/Reviews/Sponsorships       Disclaimers       Privacy