Author

Cal Dioluin

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“It was drinking from a firehose for 3 months”: from its first passenger with COVID-19 in January, through to the appointment of the voluntary administrators on 20 April, 2020 was a massive rollercoaster ride for Virgin. The sale process undertaken by the voluntary administrators unfolded at a frantic pace throughout May and June 2020. Five competing bids eventually culminated in a deal signed in June 2020 that involved Bain Capital taking full control of Virgin…

Some of the key insights were: The panel unanimously agreed that the global economy had been simmering in the background for quite some time. Corporate debt had reached historic levels by the end of 2019 and global economies were moving into troubled waters. The panel agreed that the pandemic layered on top of significant market disruptions that already existed. The need for strong leadership by governments and business leaders in the face of adversity was…