Virgin Atlantic to clinch $1.5 bln rescue deal - Sky News
14 Jul 2020 / 18:31 H.
LONDON, July 14 (Reuters) - British airline Virgin Atlantic is close to securing a 1.2 billion pound ($1.5 billion) rescue deal, Sky News reported on Tuesday, removing the medium-term chance of administration as a result of the coronavirus crisis.
The deal, which will involve backing from Richard Branson's Virgin Group and hedge fund Davidson Kempner, could be confirmed later on Tuesday, Sky News said. A spokeswoman for Virgin Atlantic declined to comment on the report.
($1 = 0.7995 pounds) (Reporting by Alistair Smout)
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