Virgin Atlantic gets creditor approval for £1.2bn rescue package
All four creditor classes voted to support the restructuring, including 99% of trade suppliers
25 August 2020 - 17:57
London — Richard Branson’s Virgin Atlantic Airways has won creditor approval for a debt overhaul, paving the way for a proposed £1.2bn rescue package that will help it avert collapse.
All four creditor classes voted to support the restructuring, Virgin Atlantic said in an e-mailed statement on Tuesday, including a group of trade suppliers that hadn’t previously provided formal backing for the proposals...
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