Coronavirus: Branson Offers Caribbean Island to Secure Virgin Bailout
Sir Richard Branson has pledged his luxury island resort as collateral to help get a UK government bailout of his stricken airline Virgin Atlantic. The billionaire Virgin Group boss said in an open letter to staff he was not asking for a handout, but a commercial loan, believed to be £500m. The airline's survival was in doubt, and his Necker Island home in the Caribbean could be mortgaged, he said. It comes as Virgin Group's airline in Australia enters administration.