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Report: Branson Looking to SELL Virgin Atlantic

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Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


News broke this afternoon that Sir Richard Branson is reportedly looking to sell the iconic airline Virgin Atlantic.

Delta — which owns a 49% stake in VS — elected to not give Virgin any financial help. Indeed, Virgin still owes Delta $200 million.

All this comes after Ryanair CEO Michael O’Leary accused Mr. Branson of trying to “fleece” British taxpayers. Virgin Atlantic asked for a government loan to help keep his airline afloat. Mr. Branson even offered his famous Necker Island home as collateral. (For what it’s worth, Virgin Australia entered voluntary administration earlier this week.)

But according to the Sunday Telegraph, “the pursuit of a £500m government package has been effectively shelved and that the airline is now focused on securing new private investment in the shadow of potential insolvency.”

The Telegraph adds there’s an “end-of-May deadline to save the airline from collapse.”

Final Approach

Well. This certainly is interesting.

No word how — if at all — this would affect Delta’s ownership stake.

It certainly would seem strange not having Richard Branson own Virgin Atlantic because he’s so linked with the company and its product.

Story developing…

— Chris

Update: this post has been corrected to indicate Virgin Australia entered voluntary administration.

Rene’s Points For Better Travel, a division of Chatterbox Entertainment, Inc. has partnered with CardRatings for our coverage of credit card products. Rene’s Points For Better Travel and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities. As an Amazon Associate I earn from qualifying purchases.


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9 Comments

  1. He should have sold his majority ownership to AF/KL when he had the chance. VS would be better off now if owned by the DL/AF/KL combo. Not much better, but better nonetheless.

  2. Santiago Speranza Reply

    So we have 200K miles with Virgin Atlantic atm… do we buy Delta flights and hope they honor them? What could possibly happen to all of our miles? Help! 🙂

  3. Carl Icahn, Warren Buffet? Who has that kind of cash right now would be my question.

    @Santiago Speranza I’ve seen that question a lot over on the r/awardtravel Reddit site lately. From what I’ve seen it seems that if you buy a Delta flight using Virgin partner miles and Virgin goes under then the ticket would be void but I’m not sure that is 100%. I’m sure someone can answer that with 100% certainty but that is the answer I keep seeing from many others. In normal times I would suggest that an airline like this wouldn’t just stop operating and would be pulled off the fire after going bankrupt but during the current virus economy, we’ve created this is less clear.

  4. worried in New York Reply

    I have two cancelled roundtrip tickets for May 3 on Virgin Atlantic from JFK to TLV, purchased on my Delta credit card on Virgin Atlantic’s website. I tried to get a refund, but got a form letter that they “will get to my request” later. Is there something I can do so I won’t lose the money?

  5. Pingback: Virgin Atlantic in financial ruin. Should I burn my million miles? On my mind...

  6. Pingback: Branson Again Offers UK Government His Necker Island for Virgin Atlantic Help

  7. I had a RT. Premium cabin on VS from JFK to Mumbai
    Via LHR which was cancelled and issued a voucher re
    Covid-19
    Now what please?
    Bought with unaffiliated Amex plat

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