VIRGIN AIRLINES
Richard Branson offers his island as collateral as Virgin Atlantic and Virgin Australia face collapse
In an open letter to employees, Branson said the survival of Virgin Atlantic and Virgin Australia was important to provide much needed competition to British Airways, an IAG (ICAGY) subsidiary, and Qantas (QABSY). “If Virgin Australia disappears, Qantas would effectively have a monopoly of the Australian skies,” he noted.
Branson, who has already pumped $250 million into Virgin Group companies in response to the pandemic, said he would offer his Necker Island estate in the Caribbean as collateral “to raise as much money against the island as possible to save as many jobs as possible around the group.”
CNN
https://www.cnn.com/2020/04/20/business/virgin-australia-richard-branson/index.html
https://twitter.com/LauraHarth/status/1252531909504184320
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