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Virgin Atlantic lands 1.2bn pounds rescue deal

Christian Fernsby |
Sir Richard Branson’s Virgin Atlantic Airways is close to unveiling a £1.2bn rescue package that will salvage thousands of British aviation jobs.

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Sky News understands that the airline has secured the backing of key financial stakeholders for a deal.

Company now expected to be among the first users of a new court sanctioned process introduced as part of government reforms to enable smoother corporate restructurings during the coronavirus pandemic.