How Billionaires Become Millionaires: Investing in Airlines
- Virgin Group invested $250 million as part of carrier rescue
- Market values of airlines have cratered during the pandemic
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It took 200 million pounds ($250 million) of Richard Branson’s own money to secure the rescue of his Virgin Atlantic Airways Ltd.
The outlay marks the latest example of the industry’s enduring capacity to shrink fortunes, although the British billionaire may not be surprised, having once said: “If you want to be a millionaire, start with a billion dollars and launch a new airline.”