News / Struggling Virgin Atlantic thrown a lifeline by £1.2bn rescue package

Virgin Atlantic appears to have secured its future through a private recapitalisation.

The carrier had hit the headlines for asking for government cash, despite shareholder Richard Branson being a billionaire. But it now appears to have found a solution.

The restructuring plan, spread over five years, has the support of shareholders of Virgin Group and Delta, as well as new private investors and existing creditors, said the airline.

“It paves the way for the airline to rebuild its balance sheet and return to ...