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Coronavirus: Branson offers Caribbean island to secure Virgin bailout | BBC News
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Coronavirus: Branson offers Caribbean island to secure Virgin bailout | BBC News

Virgin Group’s airline has been seeking relief due to economic downturn from the coronavirus. Sir Richard Branson has since put his private island in the Caribbean up as collateral in order to receive aid for the UK government. Virgin Group’s airline in Australia has also taken a major hit, and there is speculation as to if the company will survive. Branson has noted that the company will combine numerous assets in order to prevent them from going under and has asked the government to consider the effect this would have on the employees. He is currently asking for a commercial loan similar to the one awarded to EasyJet.

Source: https://www.bbc.com/news/business-52354865

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