Sunday, 19 July 2020

Virgin Atlantic still up for sale despite recent recapitalisation plan

Virgin Atlantic is still up for sale,  the firm has appointed investment bank Houlihan Lokey to negotiate the whole sale process with potential investors it has been confirmed this weekend.

According to media reports,  more than 100 potential investors have already been contacted by the bank as the Virgin Group look to dispose of the bulk of its shareholding in the carrier,  to keep it afloat beyond the end of the year.

According to media outlets, a spokesperson for the group said: "Richard and the Virgin Group are committed to the airline and are not seeking to sell Virgin Atlantic. They recognize that additional investment will be needed to compensate for the total loss of revenue due to Covid-19 and are working with Houlihan Lokey to approach private investors about the investment opportunity."

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