Virgin Atlantic tries to land First Data backing for £1bn rescue
New debt injection from hedge fund Davidson Kempner Capital Management, had been broadly agreed.
Delta Air Lines, which owns 49% of the British airline, and Virgin Group have also agreed roughly £400m in fee deferrals and waivers.
Cardnet, which is owned by Lloyds Banking Group, had now broadly agreed to the terms proposed by Virgin Atlantic and its advisers
If this concluded, the refinancing would include £200 million from Sir Richard's Virgin Group in the form of a capital injection.
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