Virgin Atlantic: a successful non-intervention by the Treasury

Sir Richard Branson didn’t really need to borrow £500m, as talk of a return to profitability in 2022 provesRishi Sunak was right: Sir Richard Branson was perfectly capable of bailing out Virgin Atlantic himself. There never was a need to beg the chancellor for a £500m loan from public coffers.Treasury officials, like everybody else, presumably spotted that the cure for Atlantic’s viral woes was staring Branson in the face. It was his half-share in Virgin Galactic, the valuable space tourism outfit that has the advantage of being a publicly-traded company and thus a semi-liquid asset. Continue reading... https://www.theguardian.com/business/2020/jul/14/virgin-atlantic-a-successful-non-intervention-by-the-treasury #business #richard_branson #uk_news #virgin_atlantic #bt #vodafone #kpmg #pwc #airline_industry #financial_sector #telecommunications_industry #accountancy