Virgin Atlantic is still talking with the British government about a bailout package to cope with the devastating effects of the coronavirus outbreak on travel as well as focusing on private sector funding, a company spokeswoman told Reuters.
FILE PHOTO: A Virgin Atlantic Boeing 747-400 takes off from Manchester Airport, Britain, January 8, 2018. REUTERS/Phil Noblethat founder Richard Branson was seeking a buyer for the airline and had set a May-end deadline for a sale, and that talks with the government for a 500 million pound bailout package had been"effectively shelved.
Earlier in the week, Branson had said Virgin Atlantic would only survive the outbreak if it received financial support from the UK government. In its report, the Sunday Telegraph quoted sources as saying that Lansdowne Partners, Singapore sovereign wealth fund Temasek and Northill Capital were among the investors interested in rescuing the airline. U.S. based Centerbridge Partners and Cerberus Capital Management were also in discussions, it said.
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