A buyer is sought for after state help has been shelved for Virgin Atlantic, a British airline mainly based at Gatwick, Heathrow and Manchester. Virgin Atlantic has a fleet size of 42 planes and flies to 30 different destinations (a lot of its destinations are in Latin America, the Caribbean and the USA). The airline was looking for a £500 million loan but the government thinks that it still has a wide variety of commercial options (this means that the government believes that the airline can get sufficient help from companies and investors and that it doesn’t need help from the state). Virgin Group has a 51% stake in Virgin Atlantic and Delta Airlines (the 3rd biggest airline in the USA) has a 49% stake. Delta Airlines cannot continue to invest in Virgin Atlantic because of UK limits on foreign airline ownership. More bad news… 26th of April 2020
Aeronews24 