Virgin Australia - Velocity Rewards
Member since 05 Sep 2013
Total posts 73
Per Bloomberg (by Christopher Jasper on 14 May 2020) and
i-News UK (by David Parsley on 14th May 2020):
Virgin Atlantic is looking to secure around £450m (US$550m) from
private investors in order to go back to the UK government.
Virgin Atlantic previously
applied for a government loan of £500m (US$610m).
It had its request for support turned down last month, and
now needs to raise a total of £750m (US$915m) before the UK government will
reconsider its application.
£300m (US$366m) of this is likely to come from founder Sir Richard Branson.
While a reported of shortlisted of 14 different firms (down from the original 100 firms that expressed interest) are being courted to
provide the rest.
Some of the firms in the running include:
1) Apollo Global Management (American private equity firm);
2 )Centerbridge Partners (American private equity firm);
3) Cerberus Capital Management (American private equity
4) Deutsche Bank (17th largest bank in the world by total
5) GIC Sovereign Wealth Fund (Singapore Sovereign Wealth
6) Greybull Capital (former owner of Monarch Airlines);
7) Norwegian Government Pension Fund Global (world's largest
sovereign wealth fund with over US$1 trillion in assets);
8) Temasek Holdings Private (Holding company owned by the
Government of Singapore).
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Virgin Atlantic (UK) Rescues Down to 12 Potential Partners
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