Virgin Atlantic creditors vote in favour of £1.2b rescue plan

[LONDON] Virgin Atlantic's creditors on Tuesday voted in favour of a £1.2 billion (S$2.15 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 per cent support from trade creditors who voted in favour of the Plan," a Virgin Atlantic spokeswoman said in a statement.

REUTERS