Are you in receipt of any Government furlough pay?But the complexity is entirely artificial, that's the thing. There's nothing inherent in running an airline (or any other sort of business for that matter) that says it has to have some elaborate ownership structure, the only reasons to do it are to evade either taxes or regulations or both. It's not reasonable to dodge paying their fair share during the good times and expect everyone else to dig into their pockets to support them in the bad times.
Re-capitalisation always wipes out existing shareholders. That's just how it works. How ironic that these businesses have through their own decisions made that politically and financially impossible.
How about Branson sells his 51% stake to the taxpayer for £1 and then the taxpayer props up the business as necessary with an eye to later re-sale. I think that would be politically do-able.