
Virgin Atlantic bailed out without government aid
The British airline Virgin Atlantic was able to agree a €2,3 billion rescue package with shareholders, investors and creditors. This is intended to help preserve the carrier and reposition it for the future. The lion's share of the funds will be raised by the shareholders Virgin Group and Delta Air Lines. Many creditors are said to have agreed to a deferral of payments on loans and other liabilities. At the same time, Virgin Atlantic is making savings on both staff and fleet. Around 3.500 employees will be laid off and the delivery of new aircraft that have been ordered will be postponed.








