Virgin Atlantic (UK) Rescues Down to 12 Potential Partners

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Virgin Australia - Velocity Rewards

Member since 05 Sep 2013

Total posts 77

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 firm);

4) Deutsche Bank (17th largest bank in the world by total assets);

5) GIC Sovereign Wealth Fund (Singapore Sovereign Wealth Fund);

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).


Poll: Do you think that Virgin Atlantic will get UK Government Support?

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