Further concessions and reorganization of credit card hold backs could bring in another $310 million if needed.on Wednesday that Virgin Group will provide $250 million in cash immediately to support the beleaguered Virgin Atlantic airline, alongside additional shareholder support of about $500 million that has also been committed mostly from Delta Airlines, which owns 49% of Virgin Atlantic. Virgin Group, owners of 51%, will support Delta with its Atlantic commitment going forwards.
With $500 million raised from the hastily arranged sale of Virgin Galactic shares, the larger Virgin group has the ability to secure the future of its main interests, namely Virgin Atlantic. Although funding has also been made available from the Galactic share sale for Virgin Orbit, Branson’s small satellite offering, viewed as having great potential by Branson but still very much in a growth and investment stage of its business lifecycle.
Firstly, Virgin Galactic, Branson’s most liquid asset, saw a positive rise to its share price that had fallen to $9 in mid March from a high of $20 in February. In May the Galactic price had returned to over $17, making the $500 million share sale raise less heartbreaking for the group.
Шо там так воняет прям
Sir Richard I hope a cure is found.
Back from the brink, but still living in tax exile. Lovely bloke, next.
Fuck him
📡🕯
were he get the money