3089366 Coronavirus: Virgin Atlantic will work out, without help, warns Branson
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Sir Richard Branson has warned that the Airline Virgin needs Atlantic state support to survive.
the head of The Virgin Group , said he asked for a handout, But a loan, believed to be £500m.
Sir Richard said: "Many airlines around The World need support from the government, and many have received it already.
The objection comes as Virgin Australia , the country's second-largest Airline , the faces go in manage without help.
Sir Richard writes in his letter that without the British government support for Virgin Atlantic "it is no competition left, and hundreds of thousands of jobs lost".
Virgin Atlantic - the asked together, in the possession of Sir Richard and US carrier Delta has, allegedly, for £500m in aid. But The Request was rejected by the Ministry of Finance.
He Said the Airline had not done enough to show they had explored, to strengthen other options of cash before you ask for state aid. government support
In his letter to staff, Sir Richard said: "We will do everything we can to make the Airline [Virgin Atlantic ] to go - But we need the support of government to achieve that, given the strong uncertainty, the traveling today and don't know how long the aircraft on the ground destroyed.
"That would be in the form of a commercial loan - it would not be Free Money , and the Airline would pay it back (such as EasyJet for £600m credit, the government recently gave you). "
He pointed out that Virgin Atlantic began with a plane 36 years ago, before adding: "Over The Years , he has created real competition for British Airways , which must remain "tough" for the benefit of our wonderful customers and The Public "
Sir Richard offered to inject £250m into the Virgin Group , in the past month, with most of that going to be the Airline .
Earlier this month, Rolls-Royce, Airbus, Heathrow Airport and Manchester airports Group letters to the government the importance of Virgin Atlantic of the UK's manufacturing supply chain stresses. Australia is fighting
meanwhile, it was reported that Virgin Australia , in which Sir Richard holds a share of around 10% - is in the vicinity to go to in the administration after he refused help from the Australian government.
The Carrier has to cancel almost all its flights during the coronavirus crisis and was not able to restructure its debt.
The Australian government refused a request by The Company for$1. 4bn (£720m) loans.
The Airline employs about 16,000 - is part owned by Sir Richard, together with Etihad, Singapore Airlines and China's HNA.
"The Brilliant Virgin Australia team is struggling to survive and need support to get through this catastrophic global crisis," Sir Richard said.
"We Are confident that Virgin Australia can emerge stronger than ever, as a sustainable, financially viable Airline . "
He warned: "If Virgin Australia will disappear, Qantas a monopoly of the Australian sky would be effective. We all know what the result would be. "
Sir Richard also speaks to the fierce criticism he faced in recent weeks about his tax situation.
critics have noted that he has no income paid in the United Kingdom tax since the transition to the tax-free British Virgin Islands 14 years ago.
Sir Richard is the 312th richest person in The World with an estimated $5. 2 billion in assets, according to the Bloomberg billionaires index.
"I have already withdraw a lot of comments about my Net Worth -But that is not calculated according to the value of The Virgin companies around The World sitting in front of this crisis, as cash in a bank account ready," He Said .
"over The Years , significant gains have never been out of the Virgin Group , But were invested in building the businesses that create value and opportunities. "
what is the question of life abroad, He Said : "Joan and I didn't want to leave the UK for tax reasons, But also for Our Love of The Beautiful British Virgin Islands (BVI), and in particular Necker Island , which I bought when I was 29 years old, as an uninhabited island on the edge of the BVI.
"over time, we built our house here. The rest of The Island is as a business that employs 175 People . "
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