Virgin boss Richard Branson recently said he will invest £215m ($250m) in the Virgin Group. The cash injection is designed to “protect employees and save jobs”.
The Virgin Group, which is majority owned by Richard Branson, encomes, in addition to Virgin Atlantic and Virgin Australia airlines, branches in the media sector, gyms, WiFi and even purified water.
Virgin Atlantic employees had already agreed to take eight weeks of unpaid leave over the next six months to weather the storm plaguing world aviation.
Richard went on to describe the magnitude of the crisis facing the aviation industry and, indeed, the world. Two weeks ago, the CEO of British Airways called it “a crisis of global proportions like no other”. Meanwhile, Branson used the words "This is the most significant crisis the world has gone through in my lifetime."
In all, the Virgin Group alone has 70000 employees in 35 countries.
