(Bloomberg) — Billionaire Richard Branson cleared a crucial obstacle on the tortuous journey to rescue his flagship airline, hobbled by the coronavirus pandemic.Virgin Atlantic Airways Ltd., founded and controlled by the serial entrepreneur, won creditor backing for a 1.2 billion-pound ($1.6 billion) bailout on Tuesday, paving the way for final approval at a court hearing next week.“Achieving this milestone puts Virgin Atlantic in a position to rebuild its balance sheet, restore customer confidence and welcome passengers back to the skies as soon as they are ready to travel,” the airline said.Virgin Atlantic was plunged into crisis after the virus grounded …read more
Source:: Yahoo Finance
