Richard Branson offers to sacrifice his Caribbean island to save Virgin Atlantic
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mirror.co.ukSir Richard Branson has offered to remortgage his Caribbean Island to help save Virgin Atlantic, after warning it will collapse without Government aid.
The billionaire, who is after an estimated £500million taxpayer bailout, said there is "no cash in the bank" as he pledged to sacrifice his Necker Island home to save the stricken airline.
In an open letter to staff, Branson, 69, said he was not asking for a handout, but a commercial loan, believed to be £500million.
The airline's survival was in doubt, and his Necker Island home in the Caribbean could be mortgaged, he said. It comes as Virgin Australia entered administration on Tuesday morning, placing 16,000 jobs at risk, after having its multiple pleas for Government help rejected.
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