(Nearly) All Aboard Virgin

Posted on Aug 26, 2020. by NTI

It is nearly, but not quite, final news, but yesterday (Tuesday 25 August) Virgin Atlantic's trade creditors voted in favour of the cracking, and quite literally historic, Restructuring Plan, moving the airline just one step away from completing the deal. All four creditor classes voted for the Plan, including 99 per cent of trade creditors, meaning the pesky remaining 1 per cent was not exactly 'crammed down' (because that it is not how it works), but it feels good to say it. However, they will be forced to sit back in economy and enjoy the experience of trying to work out where their on-board meal ends and the plastic tray begins. That will teach them.

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