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VIRGIN ATLANTIC: Elliott in Rescue Talks with Airline

Oliver Gill at The Sunday Telegraph reports that one of the world’s most powerful activist investors is in talks with Sir Richard Branson’s Virgin Atlantic to pilot a rescue of the cash-strapped airline.

The Sunday Telegraph has learnt that Wall Street colossus Elliott is reviewing Virgin Atlantic’s financial forecasts as the carrier lines up suitors hoping to secure a GBP750 million investment.

Elliott joins US investment rival Apollo as a leading contender in the race to save the airline, which is desperate to fill a cavernous hole in its finances after passenger operations were brought to a standstill by the coronavirus pandemic, The Sunday Telegraph discloses.

According to The Sunday Telegraph, sources said Virgin Atlantic’s management, led by chief executive Shai Weiss, earlier presented investment options to about a dozen interested parties.

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