August 5, 2020

Virgin Atlantic files for bankruptcy protection in US as virus bites

New York (AFP) – Virgin Atlantic has applied for bankruptcy protection in the United States, court filings show, as the British airline — which has not flown since April because of coronavirus — seeks to tie up a rescue deal in the UK.The company — part-owned by Richard Branson — grounded its planes in April because of the pandemic but announced plans for private funding worth 1.2 billion pounds ($1.5 billion) in July, what it called a “major milestone towards securing its future.”A court filing showed Virgin Atlantic sought Chapter 15 bankruptcy in New York on Tuesday, a move that would p…


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