• Privacy policy
  • T&C’s
  • FAQ
  • Meet the Team
  • About The London Economic
  • Advertise
TLE ONLINE SHOP!
NEWSLETTER
SUPPORT THE LONDON ECONOMIC
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
  • TLE
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Food
  • Lifestyle
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home Business & Economics

Richard Branson pleas for government support

Sir Richard Branson told Virgin Group employees the airline will not be able to continue without a commercial loan from the Government.

Jack Peat by Jack Peat
April 20, 2020
in Business & Economics

Sir Richard Branson has warned that Virgin Atlantic will collapse unless it receives Government support.

The Virgin Group boss said the airline needs taxpayer support in the form of a commercial loan.

It has been reported that the carrier is asking for up to £500 million of public money.

We need Government support

In an open letter to Virgin Group employees, Sir Richard wrote: “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.

“This would be in the form of a commercial loan – it wouldn’t be free money and the airline would pay it back (as easyJet will do for the £600 million loan the Government recently gave them).

“The reality of this unprecedented crisis is that many airlines around the world need government support and many have already received it.

“Without it there won’t be any competition left and hundreds of thousands more jobs will be lost, along with critical connectivity and huge economic value.”

RelatedPosts

Are companies becoming more socially responsible?

‘Need to see an end to corrupted fat cats’ as moves to disqualify Ex Carillion directors finally in process

€6bn of EU share dealing rerouted from London to new European hubs on first day of trading

Johnson’s Brexit deal sends FTSE 100 soaring to nine-month high

Tax haven companies

The pleas come as Poland and Denmark moved to exclude tax haven companies from coronavirus relief schemes.

The Danish government announced this weekend that companies which pay out dividends, buy back own shares or are registered in offshore tax jurisdictions won’t be eligible for any of the state aid programmes.

Poland attached similar caveats to its own bail-out schemes, making PLN 25 billion available to large firms who pay taxes in Poland and not elsewhere.

Related: F*** business: Somebody needs to knock heads together and fast

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Support fearless, free, investigative journalism Support fearless, free, investigative journalism Support fearless, free, investigative journalism
Please login to join discussion

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending fromTLE

  • All
  • trending

Stress, fear and homelessness: The threat looming over families confronted with eviction

File photo dated 07/11/03 of a prison cell.

The other prison pandemic

Credit;PA

Repressionomics: Get ready for the new permanent austerity

Latest from TLE

Set For Life Results Thursday 21st January 2021

Fishing industry could be ‘destroyed’ without customs changes, MPs warn

Tinwood Estate Brut 2018

Wine of the Week: Tinwood Estate Brut 2018

Credit;PA

Brexit: Up to 200 lorries a day turned back from EU crossings

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

Contact

Editorial enquiries, please contact: jack@thelondoneconomic.com

Commercial enquiries, please contact: advertise@thelondoneconomic.com

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Opinion
  • Business
  • Sport
  • Entertainment
  • Film
  • Lifestyle
  • Food
  • Property
  • Travel
  • Tech & Auto
  • About The London Economic
  • Meet the Team
  • Privacy policy

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.