Monday, 17 May 2021

Virgin Atlantic agrees private-only $1.5 billion restructuring plan

LONDON (Reuters) – British airline Virgin Atlantic said on Tuesday it had agreed a private-only restructuring package with shareholders and creditors worth 1.2 billion pounds ($1.5 billion) to secure its future beyond the coronavirus crisis.

Virgin Atlantic said the restructuring plan was supported by a majority of shareholders, and is expected to come into effect in late summer 2020.

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