Virgin Atlantic, the U.K.-based trans-Atlantic airline, is speaking to Deutsche Bank AG , amongst different establishments, about elevating some £750 million ($916 million) to assist it climate the drop in demand introduced on by the coronavirus pandemic, in accordance with an individual accustomed to the matter.
The German financial institution is amongst a bunch of round a dozen establishments, primarily private-equity companies, that Virgin Atlantic is speaking to this week and subsequent, this individual stated. Deutsche Financial institution declined to remark.
Virgin Atlantic, which is majority owned by Richard Branson’s Virgin Group, is in search of round £750 million, although this determine may embody any loans that the British authorities affords, in accordance with folks accustomed to the matter.
Virgin Atlantic has been negotiating with the British authorities over rescue funding. The U.Ok. Treasury declined to touch upon Virgin Atlantic.