Virgin Atlantic creditors vote in favor of $1.6 billion rescue plan

Business

Virgin Atlantic’s creditors on Tuesday voted in favor of a 1.2 billion pound ($1.6 billion) rescue plan, moving the airline a step closer to completing a restructuring deal designed to secure its future beyond the coronavirus crisis.

“Today, Virgin Atlantic has reached a significant milestone in safeguarding its future, securing the overwhelming support of all four creditor classes, including 99% support from trade creditors who voted in favor of the Plan,” a Virgin Atlantic spokeswoman said in a statement.