Virgin Atlantic 2020 travelers Virgin Atlantic

Virgin Atlantic saved from collapse as £1.2billion rescue package is approved

Reading now: 281
www.mirror.co.uk

Virgin Atlantic says it has reached "a significant milestone in safeguarding its future" after creditors voted in favour for a £1.2billion bailout.

The move will protect the airline from bankruptcy and form part of a restructuring deal that will save the business £600million over 18months.

The vote was a key part of a court-sanctioned process being used by the airline to implement the deal. It warned earlier this month it could run out of money by the end of September if the rescue package is rejected.

In a statement, the carrier said that its creditors had voted in favour of the proposal on Tuesday afternoon. The airline added: "Today, Virgin Atlantic has reached a significant milestone in safeguarding its future, securing the overwhelming

Read more on mirror.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA