Virgin Atlantic’s £1.2 billon restructuring programme has been given the green light by the UK’s High Court, with the deal set to complete by the end of the week. “In order to complete the private-only recapitalisation of the airline, our restructuring plan has gone through a court-sanctioned process under Part 26A of the UK Companies Act 2006, to secure approval from certain creditors before implementation,” a Virgin Atlantic spokesperson said. “Today, Virgin Atlantic attended an English High Court hearing where the Restructuring Plan was formally sanctioned. A US procedural hearing will follow tomorrow, September 3, ensuring the restructuring plan is recognised

This content is restricted to site members.

If you are an existing user, please login below.
New users may register below.

Existing Users Log In