LONDON - Billionaire Sir Richard Branson today warned Virgin Atlantic will need financial aid from the Government in order to survive the coronavirus crisis as he defended himself amid backlash over a bailout request.
As the Virgin Group boss works '"day and night" to save jobs, he says the airline needs taxpayers' support in the form of a commercial loan.
In an open letter to staff, published on Monday, Sir Richard said this period was "the most challenging time" he has ever faced during his five decades in business.
It comes after he faced intense criticism for trying to convince ministers to give Virgin Atlantic a £500m bailout to help it survive the economic fallout from the pandemic.
He wrote: "It is hard to find the words to convey what a devastating impact this pandemic continues to have on so many communities, businesses and people around the world.
"From a business perspective, the damage to many is unprecedented and the length of the disruption remains worryingly unknown."(FA)