if there is business to be done after this passes then either VA will continue to trade or someone will pick up the slots/aircraft/personnel (under TUPE).
It's gone quiet on Branson's wanting a govt bailout but as long as the employees are given adequate support meantime then subsidising the present ownership should not be down to the taxpayer. After all this has passed the assets may be owned by different parties to now but that's how capitalism works.
If the taxpayer can gain assets at a good price by taking a stake may be valid but my impression is that the previous track record is patchy at best in terms of positive return.
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