Branson says Virgin Atlantic will need UK government help to survive – News of Bahrain- DT News

  • Date: 20-Apr-2020
  • Source: The Daily Tribune - News of Bahrain
  • Sector:Defense
  • Country:Bahrain
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Branson says Virgin Atlantic will need UK government help to survive – News of Bahrain- DT News

Branson says Virgin Atlantic will need UK government help to survive. Virgin Atlantic will only survive the coronavirus outbreak if it gets financial support from the British government, the airline's founder Richard Branson said on Monday.. Virgin Atlantic last month asked the government for emergency financial help in addition to the coronavirus package made available to all British companies, but a deal has not been reached.. Virgin Atlantic is based in the UK and is 51% owned by Branson's Virgin group and 49% owned by US airline Delta.. Branson, a billionaire, has come under fire from opposition Labor party politicians for asking for support at a time when Virgin Atlantic employees have taken a temporary wage reduction and much of the economy has ground to a halt.. "I've seen lots of comments about my net worth - but that is calculated on the value of Virgin businesses around the world before this crisis, not sitting as cash in a bank account ready to withdraw," he said.. "Over the years significant profits have never been taken out of the Virgin Group, instead they have been reinvested in building businesses that create value and opportunities.. The challenge right now is that there