Virgin Atlantic may be out of money in September

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Virgin Atlantic cannot rely on government support, so it relies on private investors and the cooperation of all creditors to survive. On July 14, the airline reported a capital injection of £ 1.2 billion.

The money comes from founder Richard Branson, shareholder Delta Air Lines and investor Davidson Kempner Capital. It is now up to the creditors to give their blessing on Virgin Atlantic’s rescue plan. A definite answer is needed at the end of August, so that the airline does not run into acute payment problems.

Virgin Atlantic recently announced measures to cut costs. For example, the Boeing 747 fleet has been said goodbye and many jobs have been cut.



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