Virgin Atlantic lenders tap Deloitte for advice on rescue deal
Virgin Atlantic’s lenders have tapped Deloitte to advise them over their exposure to the carrier as it faces a race to secure rescue funding. The banks have at least GBP250m owed to them, Sky News reported, as Sir Richard Branson’s airline conducts emergency talks with the Government and private investors in search of a GBP500m lifeline. It was previously revealed that New York hedge fund Elliott Management, the fund founded by formidable investor Paul Singer, was among the names considering a potential injection of capital into Virgin Atlantic, Other hedge funds including Davidson Kempner Capital Management, Greybull and Centerbridge are also in the mix. A Virgin Atlantic spokesman said: “Discussions with a number of stakeholders continue and are constructive, meanwhile the airline remains in a stable position.”<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-05-25/unaligned/virgin-atlantic-lenders-tap-deloitte-for-advice-on-rescue-deal
https://portal.staralliance.com/cms/logo.png
Virgin Atlantic lenders tap Deloitte for advice on rescue deal
Virgin Atlantic’s lenders have tapped Deloitte to advise them over their exposure to the carrier as it faces a race to secure rescue funding. The banks have at least GBP250m owed to them, Sky News reported, as Sir Richard Branson’s airline conducts emergency talks with the Government and private investors in search of a GBP500m lifeline. It was previously revealed that New York hedge fund Elliott Management, the fund founded by formidable investor Paul Singer, was among the names considering a potential injection of capital into Virgin Atlantic, Other hedge funds including Davidson Kempner Capital Management, Greybull and Centerbridge are also in the mix. A Virgin Atlantic spokesman said: “Discussions with a number of stakeholders continue and are constructive, meanwhile the airline remains in a stable position.”<br/>
