Virgin Atlantic to begin pitch to potential investors in bid to avert collapse; Temasek said to be on shortlist

LONDON - Virgin Atlantic Airways will begin pitching to potential investors on Monday as it seeks to avoid collapse with air travel effectively grounded and the UK government reluctant to provide emergency funding, a person with knowledge of the situation said.

Singapore state investment fund Temasek Holdings is also on the shortlist, the Telegraph reported, citing unidentified sources. "We are exploring all available options to obtain additional external funding," a spokeswoman said."Discussions with a number of stakeholders continue and are constructive, meanwhile the airline remains in a stable position."

So-called pre-pack administration allows a business with a viable structure but unmanageable amounts of debt to make a fresh start.

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Virgin Atlantic begins investor pitch amid administration threatLONDON (BLOOMBERG) - Virgin Atlantic Airways will begin pitching to potential investors on Monday (May 11) as it seeks to avoid collapse with air travel effectively grounded and the British government reluctant to provide emergency funding, a person with knowledge of the situation said.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Virgin Atlantic begins investor pitch amid administration threatLONDON (BLOOMBERG) - Virgin Atlantic Airways will begin pitching to potential investors on Monday (May 11) as it seeks to avoid collapse with air travel effectively grounded and the British government reluctant to provide emergency funding, a person with knowledge of the situation said.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »