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Coronavirus: Virgin Atlantic to seek bailout in coming days

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    Coronavirus: Virgin Atlantic to seek bailout in coming days

    A company that has made an art form of avoiding UK taxes... that has spent a fortune building a space port for wealthy individuals.... now seeks money from you to save their airline whilst the owner lives in luxury in the Caribbean with a personal fortune most can only dream of.

    And they wonder how social unrest is triggered.


    Virgin Atlantic is expected to ask for a government bailout worth hundreds of millions of pounds in the coming days, the BBC understands.

    Requests for state aid are also expected from other airlines.


    The Government has said it will only step in to help struggling airlines "as a last resort" on a case-by-case basis.


    However, the Transport Secretary told MPs he can't rule out the state taking an ownership stake in UK airlines that have been battered by coronavirus.


    Grant Shapps told MPs on the Transport Select Committee that nothing had been ruled out in its response to coronavirus for the aviation sector.


    Asked by Labour MP Ruth Cadbury if the Government would consider buying a share of UK airlines that face collapse, Mr Shapps said: "It was important to save companies that would survive in normal times.


    However, the Transport Secretary said current shareholders "must be part of the solution".


    UK-based airlines have already announced measures to save money such as temporarily laying-off staff.


    Virgin Atlantic had previously suggested the Government offer UK carriers £7.5 billion in credit facilities.


    The airline's founder Sir Richard Branson this week offered to inject £250 million into the Virgin Group, with most of that amount going to the airline.


    Turbulent times
    The vast bulk of flights to and from the UK have been grounded amid the coronavirus pandemic.


    Some airlines like British Airways are still operating a number of rescue flights to bring stranded Brits home.


    Earlier this week, the government said it would not deliver a financial aid package for the aviation industry, but its emergency business measures, including a Bank of England scheme for firms to raise capital and employee wage subsidies, were available for airlines.


    But industry group the International Air Transport Association (IATA) warned of an "apocalypse" in the aviation sector as it called on governments around the world for help.


    The US Senate on Wednesday passed a $58 billion (£46.6 billion) aid package for its airline industry, which included cash for paying pilot, crew and staff salaries.
    Coronavirus: Virgin Atlantic to seek bailout in coming days - BBC News
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

    #2
    Branson likes to pretend he is a likeable bloke when in reality he is a very hard nosed businessman.

    If he wants a bailout he should be required to handover all his worldwide assets as secutity.

    But why bother? Greta says all air travel must be banned...

    Comment


      #3
      Originally posted by scooterscot View Post
      A company that has made an art form of avoiding UK taxes... that has spent a fortune building a space port for wealthy individuals.... now seeks money from you to save their airline whilst the owner lives in luxury in the Caribbean with a personal fortune most can only dream of.

      And they wonder how social unrest is triggered.




      Coronavirus: Virgin Atlantic to seek bailout in coming days - BBC News
      Virgin looked after us when we were stranded in LA following 9/11. For that alone, I thank them. You're a bitter little man, and looking ever more little by the hour.
      His heart is in the right place - shame we can't say the same about his brain...

      Comment


        #4
        he's just an expat twat trying to talk the UK down, as usual.
        ersatz erik.
        or is it faux fritz?

        Comment


          #5
          Originally posted by BR14 View Post
          he's just an expat twat trying to talk the UK down, as usual.
          ersatz erik.
          or is it faux fritz?
          Yes, the 'complete knobhead' element didn't escape me. Thank God he's an expat, is what I'm telling myself. If we ever re-open the borders, can we make some exceptions...
          His heart is in the right place - shame we can't say the same about his brain...

          Comment


            #6
            Didn't Branson put £250m into Virgin recently to help it out?

            He's just a figure head now, doesn't own anywhere near as much as you'd think.

            Comment


              #7
              The irony of the usual suspects supporting a billionaire who spends his energy minimising tax payments on revenue collected from UK citizens. Trump fan base in a nutshell.
              Last edited by scooterscot; 27 March 2020, 21:59.
              "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

              Comment


                #8
                who's supporting him? - he's an arse.
                as are you.

                Comment


                  #9
                  Originally posted by scooterscot View Post
                  The irony if the usual suspects supporting a billionaire who spends his energy minimising tax payments on revenue collected from UK citizens. Trump fan base in a nutshell.
                  And Dyson took loads of grants off the government to develop his crappy range of vacuum cleaners and then offshored the production. He's now got the contract to make ventilators.

                  Comment


                    #10
                    Man of the people, sponsor of the Tory party - no conflict of interest whatsoever.

                    James Dyson buys £43m penthouse in Singapore

                    History will look back at this time and struggle to reconcile how the serfs accepted the divided between the ultra rich and the poor self-employed having to wait 10-weeks for their grant money.
                    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

                    Comment

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