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Old 27 Mar 20, 07:49 PM  
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#31
Moorlandman
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Richard Branson is not very popular with the Tories ( he is pro Brexit and tried to sue the government over his failed bid for the west coast railway line) so it will be interesting to see how this develops over the next few days
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Old 27 Mar 20, 07:50 PM  
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Getting a Government bailout is not as straight forward as it seems as Delta hold a 49% stake in VS. Little Willie has also stressed it will be totally unacceptable for UK tax payers money to prop up the airline, although the reason for this is pretty obvious.

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Old 27 Mar 20, 07:54 PM  
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#33
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Originally Posted by Cabbie View Post
Getting a Government bailout is not as straight forward as it seems as Delta hold a 49% stake in VS. Little Willie has also stressed it will be totally unacceptable for UK tax payers money to prop up the airline, although the reason for this is pretty obvious.

-Steve
That's a key issue and whilst I have HUGE love for Virgin it is something I'd also have an issue with when it comes to government bailout. The need for state aid is going to be huge across a range of industries moving forward, I'm really not sure UK tax payer money should be used to bail out a company 49% owned by a US venture, especially as it could be argued it flies routes provided by other UK airlines. If FlyBe couldn't be saved in such circs, I really think the cards are stacked against Virgin. Tough times indeed.

Edited at 07:55 PM.
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Old 27 Mar 20, 07:55 PM  
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Strange , nothing mentioned on ITV news
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Old 27 Mar 20, 07:57 PM  
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#35
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BBC article.

BBC News - Coronavirus: Virgin Atlantic to seek bailout in coming days
bbc/news/business-52066640
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It's an insurance thing ...
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Old 27 Mar 20, 08:01 PM  
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Originally Posted by silverfox46 View Post
Strange , nothing mentioned on ITV news
Not surprising as this news story has only just broken and they have lots of other Coronavirus news to cover in a short period of time. In the grand scheme of things this is only a relative small story when you consider 100's of people are dying.

I'm sure if they apply to the government next week it will make the headlines.

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Old 27 Mar 20, 08:16 PM  
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Rumours are that other airlines are also lining up to ask for bailouts too.

Grim times across the board. If they go under then that will definitely be our summer holiday gone. I also have several friends who work there, so for their sake I really, really hope they sort something out.
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Old 27 Mar 20, 08:18 PM  
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Canít see Ryan air. Easy jet or virgin surviving. BA under a bigger umbrella and possibly potential for nationalisation
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Old 27 Mar 20, 08:30 PM  
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Originally Posted by Tinkerbell View Post
Canít see Ryan air. Easy jet or virgin surviving. BA under a bigger umbrella and possibly potential for nationalisation
I can't see the Government letting them all go bankrupt, far too much money is generated by the airline industry both in terms of business and leisure travellers. If they were to go who would plug the gap as BA haven't got the capacity to cope with future demand.

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Old 27 Mar 20, 08:33 PM  
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For VA to get any money from the UK Government they will have to seek to get money from other places first. Obviously looks like Delta isn't going to dip its hand in its rather large cash reserves to bail them which won't go down well with the UK Government. They will apply the same rules as when they didn't bail out Flybe.
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