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Old 30 Nov 21, 01:09 PM  
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YorkshireT
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Uh Oh, report on Virgin Atlantic

May be just Ďpaper talkí to get clicks, but I didnít know Virginís supposed float was not taking place and they were in the market for more rescue funds.

This government wants to think, and think again before imposing restrictions and putting once great companies in jeapordy.

ďAn effort by Virgin Atlantic to raise £400m in rescue funding has been thrown into doubt by fears of new travel curbs, raising concerns among industry observers about its prospects over winter.

Sir Richard Bransonís airline has been in talks with existing shareholders and lenders over a cash lifeline in recent weeks, after extended restrictions on travel from the UK to the United States forced it to shelve plans for a public listing.

Now Virgin Atlanticís finances face yet more strain as the omicron variant prompts the suspension of some long-haul routes and renewed testing and quarantine obligations for travellers.

The airline, which has already made deep cost cuts and borrowed heavily, is viewed as especially vulnerable to a resurgence of coronavirus compared with listed rivals such as International Airlines Group, the owner of British Airways.Ē
-Telegraph, today.
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Old 30 Nov 21, 01:33 PM  
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Gelatoni
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One thing is for sure: Branson will have to dig deep into his own pockets to save the airline. Is he prepared to do that? I think it's very much "his baby"... We'll see.
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Old 30 Nov 21, 01:56 PM  
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Originally Posted by Gelatoni View Post
One thing is for sure: Branson will have to dig deep into his own pockets to save the airline. Is he prepared to do that? I think it's very much "his baby"... We'll see.
I can't see how he can, there are only two realistic ways he can inject money:

1 - create more shares in the airline, which would mean
diluting the Delta holding
2 - Delta match fund so that the holding of risk remains the same

he could loan the airline cash but he didn;t get rich by giving money to loss making entities with no immediate path to payback
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Old 30 Nov 21, 05:15 PM  
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Don't worry if that loveable hippy Branson can get hold of easy public money he will , just look at Virgin Railways
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Old 30 Nov 21, 07:16 PM  
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123
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Originally Posted by Lisbon View Post
Don't worry if that loveable hippy Branson can get hold of easy public money he will , just look at Virgin Railways
You mean the company that actually knew how to run a rail service who their customers think the service has gone down drastically since the government took the franchise of them
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Old 1 Dec 21, 10:17 AM  
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This doesnít surprise me sadly, weíve already had flights from MAN to LAX cancelled and our flights home in May from ATL now look in jeopardy (you cannot book them now if you are looking to). My response from the Executive club was vague and indicated that there are no more ďplannedĒ cancellations from MAN, but the evidence is becoming clear that they donít have the planes and crew to offer a full schedule and wonít be bringing planes back into service until there is a prolonged upturn in travel
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Old 1 Dec 21, 08:09 PM  
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Originally Posted by 123 View Post
You mean the company that actually knew how to run a rail service who their customers think the service has gone down drastically since the government took the franchise of them
And doesn't run the same direct routes that Virgin successfully did.
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Old 1 Dec 21, 08:45 PM  
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Heís making money buy charging $19,000 a night at moskito private island and letting the public stay on necker island
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Old 1 Dec 21, 08:48 PM  
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Originally Posted by aqualiv View Post
Heís making money buy charging $19,000 a night at moskito private island and letting the public stay on necker island
If people want to pay that good luck to them. I wouldn't, but one has to admire him.
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