Do you want to access to this and other private contents?
Log in if you are a subscriber or click here to request service

Virgin Atlantic could run out of liquidity by September

One of the company's lawyers reported this in court

Not a penny: it's not encouraging the prospect that could be closely related to the carrier Virgin Atlantic Airways Limited, according to reports in court this morning by David Allison, lawyer of the company controlled by the holding company Virgin Atlantic Limited. By September 28 there may be no more cash in the airline's coffers, unless there is timely approval of the rescue plan. The aid amounts...

sr - 1231074
London, United Kingdom, 08/04/2020 20:13
AVIONEWS - World Aeronautical Press Agency

AirlinesVirgin Atlantic creditors agree to bailout

London High Court is due to be pronounced on 2 September

The long-awaited agreement that airline Virgin Atlantic was willing to better understand what its future will be finally arrived. Creditors accepted the rescue plan of Richard Branson's company, an agreement... more

AirlinesVirgin Atlantic's latest negotiations with creditors

Judgment on the rescue plan is awaited

Negotiations of the carrier Virgin Atlantic with its creditors are in advanced phase. As it turned out at the beginning of this August, British company could run out of liquidity by the end of September... more

AirlinesBusiness air travel crisis: 34 bankruptcies in 2020

Troubled companies are very numerous

Business is business, but air travel to carry it out is now impossible. The alarming situation emerged from the in-depth examination by various economic analysts, according to which the tourism crisis... more

Similar

AirlinesGatwick (2). The terminal has also reopened to passengers

The post on X confirms it

The London-Gatwick Airport company has published a post on X that confirms: "The earlier security alert has now been resolved and cleared by police. The South Terminal is reopening to staff and will be... more

Civil aviationSolarig Spain invests €1.15 billion to produce SAF aviation fuel

New plant in Teruel, Aragon, with capacity of over 75,000 tons per year

Equivalent to 33,000 flight connections between Zaragoza and London (considering a 50% sustainable fuel mix) more

AirlinesLOT Polish Airlines adds Malta to its European route network

Inaugural flight in April 2025 four times a week

LOT Polish Airlines, a member of Star Alliance, is continuing the expansion of its European route network and will start serving Malta from Spring 2025. Following the inaugural flight on 16th April 2025,... more