Temasek eyes stake in Virgin Atlantic Airways

The carrier seeks to avoid collapse as it pitches to potential investors.

Temasek is eyeing a stake in British airline Virgin Atlantic Airways, reports Bloomberg.

Singapore’s state investment company joins a list of potential investors that include Greybull Capital, Apollo Global Management, Centerbridge Partners, and Cerberus Capital Management.

Virgin Atlantic is reportedly pitching to potential investors in a bid to avoid collapse as a result of travel bans. The UK government is reluctant to provide emergency funding as it is said to lack investment-grade credit rating.

The report noted that the carrier has enough cash to survive through the summer but is likely to have a “better idea” about its viability in the next week or two. With the funding, the carrier would be able to repay the $875.1m (£500m) with interest, within two to five years or possibly less, whilst the facilities could be left undrawn.

Here’s more from Bloomberg.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia