Richard Branson offers his island as collateral as Virgin Atlantic and Virgin Australia face collapse [CNNMoney.com]
Boeing Company (The) (BA)
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Source: CNNMoney.com
Richard Branson offers his island as collateral as Virgin Atlantic and Virgin Australia face collapse London (CNN Business) Virgin Atlantic and Virgin Australia will need government support if they're to survive the economic crisis triggered by the coronavirus pandemic. Billionaire founder Richard Branson said Monday that the airlines need money from the UK and Australian governments to keep going "in the face of the severe uncertainty surrounding travel today," including the lack of clarity over how long planes will have to remain grounded. In an open letter to employees, Branson said the survival of Virgin Atlantic and Virgin Australia was important to provide much needed competition to British Airways, an IAG ( ICAGY ) subsidiary, and Qantas ( QABSY ) . "If Virgin Australia disappears, Qantas would effectively have a monopoly of the Australian skies," he noted. Branson, who has already pumped $250 million into Virgin Group companies in response to the pandemic, said he
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BA
Earnings
- 10/29/25 - Miss
BA
Sec Filings
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- 12/3/25 - Form 4
- BA's page on the SEC website