Transportinfo.org.uk - today's transport news in the uk, hand picked for you each morning

Wednesday, 15 July 2020

BBC News

• Coronavirus: Virgin Atlantic finalises £1.2bn rescue dealSir Richard Branson's airline pulls off the

Financial Times

• Virgin Atlantic secures £1.2bn rescue package to keep flyingChief executive says deal is ‘major achievement’ in airline’s fight for survival
• Delta steers 17,000 staff into early retirementCarrier reports $7bn second-quarter loss and makes plans for reduction in flying

The Guardian

• Virgin Atlantic agrees £1.2bn rescue deal amid coronavirus slumpInvestors pump in funds, loans and deferrals alongside Branson’s £200m injectionCoronavirus – latest updatesSee all our coronavirus coverageVirgin Atlantic has announced a £1.2bn rescue deal to allow Sir Richard Branson’s grounded passenger airline to survive another 18 months of turmoil and aim to return to profit in 2022, after four months without scheduled flights.The privately funded recapitalisation package, a combination of cash injections, loans, and deferrals, was finally confirmed on Tuesday after weeks of talks with potential investors, after Virgin’s attempts to garner state support...
• British Airways to sell art collection to ease Covid-19 pressuresMultimillion-pound collection features work by Bridget Riley, Damien Hirst and Marc QuinnBritish Airways is selling its multimillion-pound art collection, including work by Bridget Riley and Damien Hirst, as it attempts to raise funds while the Covid-19 crisis continues to devastate the aviation sector.The Sotheby’s sale will include several artworks that could fetch six-figure sums and have previously decorated BA’s executive lounges and company headquarters. Continue reading...

Times Online

• Virgin Atlantic keeps flying after £1.2bn deal [Subscription]Airline secures future as more staff are laid off

Mail Online

• The future of airport cleaning? Robots that kill viruses and bacteria are being used at HeathrowUltraviolet (UV) cleaning robots are being deployed at Heathrow as the airport tries to encourage passengers to return to air travel. The machines use UV rays to kill viruses and bacteria at night
• Administrators had to pay Virgin employees with loans because airline had no money for wagesDeloitte said Virgin Australia had been burning $200million a month and they had to negotiate with financial institutions to gain access to more cash so the business could stay afloat.

This is Money

• Branson stumps up £200m to secure a rescue package for Virgin AtlanticThe airline was at risk of plunging into administration putting almost 10,000 jobs in danger after the global travel shutdown forced it to abandon commercial flights.

Sky News

• Virgin Atlantic reaches deal to keep planes flyingSir Richard Branson’s Virgin Atlantic Airways has unveiled a £1.2bn rescue package through a deal that will secure its immediate future.

London Evening Standard

• Boeing sells just one plane in June amid crisis in aviation due to coronavirusBoeing sold just one plane last month as the global aviation industry continues to face a widespread crisis prompted by the coronavirus pandemic.

Other Regional Press

• Airport statement as plane veers off runway causing major disruptionFlights are being delayed to and from the airport