Virgin Atlantic rescue approved but airlines continue to feel the heat 

Virgin Atlantic has won approval for a €1.3bn rescue package which could see it survive the Covid crisis

Virgin Atlantic’s chances of surviving the carnage wreaked on the airline industry by the Covid-19 travel shutdown have improved, thanks to its lenders giving the green-light to a £1.2bn (€1.3bn) rescue package and debt restructuring.

“Achieving this milestone puts Virgin Atlantic in a position to rebuild its balance sheet, restore customer confidence and welcome passengers back to the skies as soon as they are ready to travel,” the airline said.