Virgin Australia Airway has gone into Admin
 

Yes
Down Under , no flights
now bankrupt.


BBCnewsHD


https://www.theguardian.com/business...f-jobs-at-risk

I really feel sorry for all the people that work for Virgin.
However, I hope we don’t bail this British none tax payer out.

I think he has been refused a bailout so far and has begged to put one if his islands against the loan.

In my eyes he isnt entitled to it for refusing to pay tax

Yes thats a Good way
to save UK Virgin Airways

Is it right that this bailout based on tax paid in the UK? If it is that's genius.

[Richard Branson says
'this is not the end for Virgin Australia'
after the airline went into
voluntary administration
Virgin Australia has gone into
voluntary administration after
failing to secure an emergency
bailout from the Australian
federal government,
leaving at least 15,000 jobs in limbo.
Accounting firm Deloitte
has been appointed as administrators.
The airline's cash flow collapsed due
to the coronavirus pandemic.]

https://pbs.twimg.com/card_img/12521...jpg&name=small

He only has a 10 per share :shrug: who owns the rest of it, Singapore Airlines have a huge chunk..and Etihad

n May 2016, HNA Group (part owner of Hainan Airlines), announced plans to purchase a 13% stake in Virgin Australia Holdings, which if approved will see existing owners' shares diluted. Air New Zealand's stake would become 22.5%, Etihad would hold 21.8%, Singapore Airlines 20.1% and Virgin Group 8.7%.[16] A month later Air New Zealand sold 19.9% of VAH to Nanshan Group (majority owner of Qingdao Airlines);[17] and in October, Air New Zealand sold its remaining 2.5% of VAH to Nanshan Group (majority owner of Qingdao Airlines).[18] A month later Virgin Australia CEO John Borghetti wrote to the airline's pilots to reassure them the airline was in a sound financial position following publication of a report suggesting the airline was approaching insolvency.[19][20]

Its a Commercial Loan
Branson wants from the UK Government
to Save the UK Virgin Airways
so let him have it on a set time loan
if he does not pay back - We get his Private Island

Easy Jet
has secured a Loan
from the UK Gov.
He has to pay interest on that.

Simon Cowell and Ducan Bannatyne have attack him and the beckhams for furloughing staff and said they will pay their staff from their own pockets