Billionaire Richard Branson aims to sell his transatlantic airline – which has been grounded by the coronavirus outbreak after seeking £500m government bail out
Billionaire Richard Branson is desperate to offload Virgin Atlantic and is seeking a buyer for the airline by May. Branson is seeking a buyer to save the airline from collapse after a taxpayer bailout proved beyond his reach.
The Sunday Telegraph report that Branson, who owns his own island, is no longer looking for a £500m government bailout.
And instead he wants to sell his transatlantic airline – which has been grounded by the coronavirus outbreak.
He sparked anger when he called on Number 10 to plough cash into the business after the coronavirus pandemic broke out.
According to the newspaper, there is plenty of interest in the business, wth investment bank Houlihan Loke said to be in discussions with 50 potential investors.
Sources have reportedly said that “all options are on the table”.