(LONDON) #Coronavirus Business Report: Billionaire Sir Richard Branson has called for Taxpayers Bailout By G overnment ‘ to save his Virgin airlines, while warning of the repercussions should Virgin Australia collapse but instead of moving his shares into an offshore domain to allow him to use his ‘ fly to t he stars ‘ project he should support his front-line staff #AceFinanceDesk report

#AceFinanceReport – Apr.20: Editor says …….we reported on this only a few weeks a go when he moved his shares to an offshore domain to allow him to qualify to claim for funds under his U.K. company status if you missed it read the full report here and leave your news and views: https://acenewsservices.com/2020/04/06/london-coronavirus-finance-report-british-backed-virgin-atlantic-airways-ltd-first-applies-to-u-k-gover-nment-to-obtain-backing-but-make-sure-he-transfers-his-shares-worth-1-1-billion-in-virgin/

#Coronavirus Report: Sir Richard Branson calls for U.K. government bailout, warns of repercussions of Virgin Australia collapse but moved his $1.1-billion in shares first

Key points:

  • Sir Richard Branson says Virgin Australia is fighting to survive, and its demise would give Qantas “a monopoly of the Australian skies”
  • He suggested his private island could be used as collateral for a government loan
  • Sir Richard refuted claims he should be providing more of his own finance to Virgin airlines saying his wealth “is not sitting as cash in a bank account:

Virgin Australia is on the brink of entering voluntary administration with requests for a $1.4 billion bailout from the Federal Government unlikely to be granted, while Virgin Atlantic faces a similarly uncertain future.

In an open letter to Virgin employees, Sir Richard said Virgin Atlantic “will need government support” to keep the airline going “in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for”.

Sir Richard also made specific mention of Virgin Australia, which he said is “fighting to survive”


ABC News Just In report: https://ift.tt/2yrI5NC

“In an open letter to Virgin employees, Sir Richard said Virgin Atlantic “will need government support” to keep the airline going “in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for”.”

#AceHealthDesk report ………….Published: Apr.20: 2020:

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