Tuesday, August 4, 2020

Virgin Atlantic files for bankruptcy

Virgin Atlantic Airway has filed for bankruptcy, as the aviation industry continues to be ravaged by the coronavirus pandemic.

The Virgin Group airline filed for Chapter 15 bankruptcy in New York on Tuesday, marking the latest business casualty for the airline industry.
It is the second of billionaire Richard Branson’s aviation business to file for bankruptcy, months after Virgin Australia took a similar step.
Airlines have been one of the hardest hit by the global health crisis as borders were shut, flights were banned and passenger traffic shrank.
The London-based Virgin Atlantic, is owned 49% by Delta Air Lines.

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