Virgin's crown jewel continues to operate under its existing management and board, albeit well aware that it is up for sale as part of the wider group and that its parent is in administration.
To handle the complexities - and to work out how to navigate the interplay with a parent in administration - Velocity has hired some advisers of its own. And it's someone well known in the local restructuring/insolvency set.
Virgin's Velocity Frequent Flyer is one of the few parts of the airline group that isn't under Deloitte's control - but that doesn't mean it is completely distanced from the insolvency set.
