01:53 GMT02 December 2020
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    Richard Branson is seeking a buyer for Virgin Atlantic Airways Ltd. after the airline was grounded indefinitely amid the ongoing coronavirus outbreak, according to the Daily Star.

    The 69-year-old Richard Branson has set an end-of-May deadline to save the airline from bankruptcy, according to reports, and was no longer looking for a £500m government bail out.

    "We will do everything we can to keep the airline going - but we will need Government support to achieve that in the face of the severe uncertainty surrounding travel today and not knowing how long the planes will be grounded for,” Branson said in an open letter.

    "The reality of this unprecedented crisis is that many airlines around the world need government support and many have already received it,” he added.

    Recently, the airline's staff was told to take eight weeks of unpaid leave. 

    Earlier, Virgin Airlines' Australian subsidiary came under external debt management; the main British division of the company calculates multi-million-dollar losses due to the virtually complete ban on international air travel due to the coronavirus epidemic.

    Thirty-six years ago, Virgin Airlines began working with one aircraft, but over the years it grew and was able to compete with British Airways due to its routes and the quality of service on board.

    Tags:
    airline, Virgin Atlantic, Richard Branson
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