Guess that JV strategy may fail
 

Coronavirus: Virgin Atlantic finalises £1.2bn rescue deal https://www.bbc.co.uk/news/business-53406604


...Defers $millions of pounds owed to DAL...

The JV’s are still intact. We’ve lost, for the time, the equity investments but the agreements stand. So all the connections and landing rights/agreements are still in force. That’s important. The LATAM JV in particular is very important to our long term strategy and will be very important to our future. As the world recovers the JV’s will continue to pay off and be very strategic alliances for us. We need to use these times to bolster our protective language for when that recovery begins we, as pilots, can reap what they sow and hopefully bolster our protections for our jobs via SCOPE... we’ve not been too good on that, I’m sure we can all agree.

Great points.

DIP financing gets Delta control in the restructuring. We are now creditors with the fees differed. Break even for us means cash on hand. More to come.

Read that Richard Branson is ponying up $200 million of his own scratch to help keep Virgin alive after they couldn’t get a government bailout.

No idea what percentage of his total net worth that is, so it’s kind of relative. Still, what is it about airlines that investors get all emotional about as investments. Even Warren B has gone down that path before.

Have you seen their FAs? 😁

Didn’t he offer up his main Caribbean party island crib as collateral?

I'd buy that for a dollar.

What is "JV?"

Just Virtual.