Skip to content
Subscriber Only

Virgin Atlantic to Pitch Investors Amid Administration Risks

  • Carrier to lay out plans to a dozen companies starting Monday
  • Airline eyes 500 million-pound state support on virus shutdown
A grounded Virgin aircraft stands on the tarmac at Sydney Airport.

A grounded Virgin aircraft stands on the tarmac at Sydney Airport.

Photographer: Brendon Thorne/Bloomberg
Updated on

Virgin Atlantic Airways Ltd. will begin pitching to potential investors Monday as it seeks to avoid collapse with air travel effectively grounded and the U.K. government reluctant to provide emergency funding, a person with knowledge of the situation said.

The talks follow the U.K. carrier’s appointment of restructuring specialist Alvarez & Marsal to develop contingency plans for a so-called pre-packaged administration should it fail to secure financial backing, according to the person, who asked not to be named discussing private matters.