Sir Richard Branson ‘seeks buyer’ for Virgin Atlantic

posted on 28th April 2020 by Eddie Saunders
Sir Richard Branson 'seeks buyer' for Virgin Atlantic

Sir Richard Branson is seeking a buyer for Virgin Atlantic as the government continues to shun requests for a £500m commercial loan, according to reports.

The entrepreneur has set an end-of-May deadline to save the airline from collapse, reports The Sunday Telegraph.

Virgin Atlantic told the BBC talks with the government were “ongoing and constructive” but that the carrier is also looking to raise cash from the private sector.

They added: “Because of significant costs to our business caused by unprecedented market conditions which the Covid-19 crisis has brought with it, we are exploring all available options to obtain additional external funding.”

Last week, Branson offered his luxury Necker Island home as collateral to help secure a government bailout of Virgin Atlantic.