Branson said airlines around the world would, over the coming months, rely on state support to stay in business and continue to providing healthy competition – while retaining thousands of jobs.

Virgin Atlantic is understood to have been among the first airlines to seek bespoke support from the government after chancellor Rishi Sunak stated in his first major coronavirus funding announcement on 17 March he was discussing a tailored support package for aviation with transport secretary Grant Shapps.

A fortnight later, though, Sunak warned airlines should seek other forms of funding before making any formal application for state aid.

While EasyJet on 6 April confirmed it had secured a £600 million commercial loan through the government’s Covid Corporate Financing Facility, the Financial Times on Friday (17 April) reported Virgin Atlantic had been told to resubmit its proposal for £500 million in aid, with ministers reportedly "unimpressed" by its demands for a package of commercial loans and guarantees.

However, on Monday (20 April), Branson – who opted last year to retain his 51% controlling stake in Virgin Atlantic after considering the sale of a 31% stake to Air France-KLM – insisted the airline would make good on any government support.

"If the UK government does help Virgin Atlantic to survive, it will not be free money but repaid on commercial terms," said Branson.

In an open letter to staff, Branson also detailed Virgin Orbit and Virgin Galactic’s efforts to manufacture vital medical equipment, including ventilators and oxygen hoods, and Virgin Atlantic’s role shipping fresh PPE supplies to the UK.

He said the current coronavirus pandemic was proving "the most challenging time" in his five decades in business.

"I am working day and night to look after our people and protect as many jobs as possible," he said, stressing this included "aviation, leisure, hotels and cruises".

Branson said with no money coming in and lots going out, cash within Virgin Group was being deployed to protect jobs, with Virgin Atlantic proving a big part of that effort.

"Much has been said about Virgin Atlantic employees taking a wage reduction for eight weeks, spread across six-and-a-half months," said Branson. "This was a virtually unanimous decision made by Virgin Atlantic employees and their unions who collectively chose to do this to save as many jobs as possible – it was not forced upon them by management.

"I am so proud of the Virgin Atlantic teams who continue to deliver critical medical cargo flights to the UK, and the many Virgin Atlantic people who are currently volunteering with the NHS. Their spirit is so heartwarming and inspiring, and I couldn’t be prouder of our amazing people."

Branson, though, said government support would be vital to keeping the airline going in the face of the "severe uncertainty surrounding travel", and not knowing for how long the airline’s fleet could yet remain grounded.

"This would be in the form of a commercial loan," he said. "It wouldn’t be free money, and the airline would pay it back (as easyJet will do for the £600 million loan the government recently gave them).

"The reality of this unprecedented crisis is that many airlines around the world need government support and many have already received it. Without it, there won’t be any competition left and hundreds of thousands more jobs will be lost, along with critical connectivity and huge economic value.

"Virgin Atlantic started with one plane 36 years ago. Over those years, it has created real competition for British Airways, which must remain fierce for the benefit of our wonderful customers and the public at large."