Cyrus currently has just $4 billion in assets under management. Resurrecting Virgin 'to remain roughly the same size it was before going into voluntary administration in April' will be a $5 billion cash and debt deal. So, there's that.
Branson is underwater on Virgin Atlantic and just watched Virgin Orbit drop a $12 million two-stage rocket into the Pacific Ocean (for those unfamiliar with the project, the rocket was meant to head in the opposite direction). And then there's Virgin Voyages - probably not tracking to the FY20 business plan and not likely to be hitting its FY21 numbers either with a further two 110,000 tonne cruise ships on order. So, in the grand scheme of things I wouldn't think that he's necessarily flush with cash just at the moment.
Cyrus are likely just trying to play up their non-financial credentials to the unions ahead of Friday's short-short-listing.
Last edited by MickG0105; 27th May 2020 at 13:11.
Reason: Spelling