Virgin Atlantic targets £900m rescue deal within days
Sir Richard Branson’s flagship company is targeting early next month to seal a privately funded bailout
Virgin Group and Delta Air Lines, Virgin Atlantic's existing shareholders would provide around £250m of new funding support to Virgin Atlantic
This weekend, two proposals from rival hedge funds Davidson Kempner Capital Management and Elliott to provide up to £250m in debt funding to the British carrier are being considered.
Davidson Kempner, an investor in British companies such as the outsourcer Interserve and Oak Furnitureland, is said to be a marginal frontrunner at this stage.
A multitude of advisers, including Houlihan Lokey, Alvarez & Marsal, Deloitte, Morgan Stanley and EY are working for various stakeholders on the Virgin Atlantic rescue deal.
https://news.sky.com/story/coronavir...-days-12015887