Back to basics - how long are Delta prepared to support VS financially? A detailed review of their finances suggests that they would need to make substantial profits in order to service their loans (Note: money is not legally able to be “gifted” by Delta due to anti-competition rules).
https://www.gridpoint.consulting/blo...sses-at-virgin
UK Gov were also not prepared to provide any financial loans to VS in Covid, probably due to lack of assets.
Admittedly it’s all about the LHR slots - arguably they could be included in a valuation provided they remain solvent, but that wasn’t enough for UK Gov.
In relation to previous posts, I struggle to see how the minutiae of contracts is relevant with such an elephant in the room!