Virgin Atlantic was in danger of disappearing
VIRGIN Atlantic might have "disappeared" if Halifax Bank of Scotland had gone under, Sir Richard Branson has revealed.
The billionaire founder of the airline said HBoS refused to let his company withdraw 1 billion pounds of its money when it looked like it was set to go bankrupt last month.
"Virgin Atlantic may have disappeared if HBoS had gone. It could have been that serious," Sir Richard said.
In an interview with Fox News, he said fears that HBoS was about to go bankrupt led Virgin to try and withdraw 1bn of deposits, but it was told it was unable to under the terms of its deal with the bank.
Sir Richard made the comments as he explained why he thought governments should guarantee "all of their depositors' money in banks".
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Sunday 27 May 2012
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