Sir Richard Branson Offers To Part With Necker Island In Return For £500m Airline Bailout
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April 20, 2020 - by Oliver Gill for telegraph.co.uk
- The Virgin boss has rebutted claims he wants 'free money' saying the arrangement would take the form of a 'commercial loan'
Sir Richard Branson has offered to put Caribbean retreat Necker Island up as collateral in return for a taxpayer-backed bailout of his airline group.
The billionaire issued an impassioned plea for governments to save his business empire after admitting he has no "cash in the bank".
In a wide-ranging letter, the Virgin Group founder hit back at criticism for suing the NHS and claims he moved overseas for tax purposes.
Sir Richard's airlines have been hit particularly hard by the coronavirus pandemic and are asking for state aid.
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