Credit:Decades of media-friendly exploits, from attempts at world records to glitzy airline route launches to a bid to establish the world's first space-tourism company, have become a millstone as states balk at coming to the aid of one of the world's best-known entrepreneurs.Colouring that reluctance is Necker Island itself, with the British Virgin Islands retreat portrayed as nothing more than a tax haven by some British politicians and newspapers.
"To use an island to go to a third party to raise money, I haven't seen that," said Farhad Vladi, who rents and sells private islands and estimates Necker was worth more than $US100 million before a hurricane strike in 2017. "But, of course, he's different." Branson hosted former US President Barack Obama on Necker, his Caribbean island, after Obama's second term as US president.There's little sign, though, that the announcement regarding Necker and an appeal from Branson to help save thousands of jobs has changed many minds.
Britain has yet to decide on Virgin Atlantic's weeks-old application for hundreds of millions of pounds in support.The government has asked the airline to provide details of efforts to seek private-sector cash and hired Morgan Stanley to assess its viability and economic contribution, according to people familiar with the matter. Virgin has engaged investment bank Houlihan Lokey to show that it's exploring all funding options.
his island is only worth few millions when he needs billions
So he's looking to chip in a mortgage over his tax haven? what a guy.
Screw him. He chose to live in a tax haven and not pay UK tax for 14 years. Let the Virgin Islands bail him out.
His private tax haven you mean? Song Zuuowen net worth $2.8b, Chen Feng $2.8b, Al Nahyan Royal Family $230b Richard Branson $9.2b ...these are the folks asking Australian taxpayers to bail out their airline. 🙄
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Branson calls for UK Government bailout to save Virgin airlinesIn an open letter to Virgin employees, Sir Richard Branson calls on the UK Government to help save Virgin Atlantic, while warning against allowing Qantas a monopoly should Virgin Australia disappear. richardbranson how’s that island bunker treating you and your billions? Did he sell his private island? Can't help billionaires if they won't help themselves He should give his last dollar to save the jobs of Virgin employees. Or we should eat him or confiscate his assets and nationalize virgin Australia. I like tubular bells though.
Source: abcnews - 🏆 5. / 83 Read more »
Virgin Australia confirms collapse, appoints administratorsVirgin Australia has confirmed it has gone into voluntary administration, handing the airline over the insolvency experts at Deloitte to restructure the business and find new owners to keep it flying. Will be purchased by an Asian-based airline. Chinese are waiting to buy it up , they already own 25% AirAsia may bail it out
Source: theage - 🏆 8. / 77 Read more »
Virgin Australia set for voluntary administrationSeveral private equity firms are already sniffing around looking to potentially buy Virgin Australia out of administration, which will see some of its debts wiped and aircraft leases renegotiated Barbarians at the Gate! Be great if we could all have our debts wiped Poorly managed airline. On the other hand buy QAN shares
Source: smh - 🏆 6. / 80 Read more »
Labor calls on Morrison Govt to save thousands of Virgin jobs | Sky News AustraliaBill Shorten is calling upon the Morrison Government to ensure 'Virgin doesn't fall over'. \n\nMr Shorten said hundreds of families of Virgin workers are facing significant financial crises if the airline collapses. \n\nThe former opposition leader said Australia is facing the reality of becoming a one-airline nation. \n\n'If Virgin collapses a lifeline to the regions will be cut,' he said. \n\n“You’d have to believe in unicorns if you think that one large airline won’t see airfares go up,” he said. \n\nImage: News Corp Australia billshortenmp Labor have really lost their way when they want taxpayers to bail out overseas investors who pay zero tax. billshortenmp GovernmentIsTheVirus billshortenmp What about the rest of the businesses Bill. Nobody seems to give a damn. You have to be a big multi national to get any help. The whole country is going to be ruined. It is time to open up Australia
Source: SkyNewsAust - 🏆 7. / 78 Read more »
'We will bring a bazooka': States in a bidding war for Virgin HQQueensland has vowed to 'stop at nothing' to keep Virgin's headquarters in Brisbane and has warned the NSW government to 'back right off'. Spellbinding! 😅 pathetic to see the premiers in a dog fight Yep but make them pay tax in Australia and dump the tax havens.
Source: smh - 🏆 6. / 80 Read more »
Virgin Australia set for voluntary administrationThe Morrison government's refusal of further financial support for Virgin has sealed the carrier's fate, with the airline preparing to go into voluntary administration. Well so be it then. $5 bil in debt. Never made a profit. Well go figure. Not the governments role to bail it out. Time to say goodbye. I don’t want my taxes rewarding a company that has such debt
Source: theage - 🏆 8. / 77 Read more »