Virgin Atlantic and Virgin Australia will need government support if they’re to survive the economic crisis triggered by the coronavirus pandemic, billionaire founder Richard Branson says.
Billionaire founder Richard Branson said Monday that the airlines need money from the UK and Australian governments to keep going"in the face of the severe uncertainty surrounding travel today," including the lack of clarity over how long planes will have to remain grounded. In an open letter to employees, Branson said the survival of Virgin Atlantic and Virgin Australia was important to provide much needed competition to British Airways, an IAG subsidiary, and Qantas .
Lufthansa , one of Europe's biggest airline groups, is permanently reducing the size of its fleet and shutting down one of its low-cost carriers, warning that the aviation sector will take years to recover from the crisis.
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