Virgin Atlantic Files For Bankruptcy Protection

August 4, 2020 Business, Coronavirus

Business Insider reports:

Virgin Atlantic filed for Chapter 15 bankruptcy in New York on Tuesday, becoming the latest airline forced into reorganization during the coronavirus pandemic.

Virgin Atlantic is the second Virgin Group airline to file for bankruptcy protection. Virgin Australia filed for voluntary administration — a form of bankruptcy in Australia — in April.

London-based Virgin Atlantic, which is 49% owned by Delta Air Lines, flies exclusively long-haul international routes, and suspended all passenger operations in April when the coronavirus pandemic triggered a crash in travel demand. It began flying passengers again in July.

Breaking: British airline Virgin Atlantic has filed for Chapter 15 bankruptcy in New York, USA. #COVID19 pic.twitter.com/MMoyqdMhw0

— Alex Macheras (@AlexInAir) August 4, 2020