Virgin Atlantic could ‘run out of money’ by end of September

The airline unveiled a restructuring plan to secure its future, involving only private funds, last month.

Virgin Atlantic could run out of money by the end of September if creditors do not approve a £1.2 billion bailout package, a court has heard.

Without a restructuring and injection of new cash, it is projected that the airline’s cash flow would drop to “critical levels” by the middle of next month and it will “run out of money altogether” by the week beginning September 28.