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Sir Richard Branson didn’t really need to borrow £500m, as talk of a return to profitability in 2022 proves
Rishi Sunak was right: Sir Richard Branson was perfectly capable of bailing out Virgin Atlantic himself. There never was a need to beg the chancellor for a £500m loan from public coffers.
Treasury officials, like everybody else, presumably spotted that the cure for Atlantic’s viral woes was staring Branson in the face. It was his half-share in Virgin Galactic, the valuable space tourism outfit that has the advantage of being a publicly traded company and thus a semi-liquid asset. Continue reading...