Virgin Atlantic files for bankruptcy due to COVID-19..
Virgin Atlantic has declared itself bankrupt and is seeking protection from creditors in the US, according to a court filing in New York on Tuesday.
The airline is seeking the protection under chapter 15 of the US bankruptcy code, which allows a foreign debtor to shield assets in the country. The announcement comes little more than a month after Virgin Atlantic announced it had secured funding to survive for another 18 months.
Virgin Atlantic flies only long-haul international routes and suspended flights in April due to the coronavirus pandemic.
The bankruptcy is the second from a Virgin Group airline this year. Virgin Australia, the country’s second largest airline, went into administration in April, owing $6.8bn to more than 12,000 creditors.
https://www.msn.com/en-us/money/other/virgin-atlantic-files-for-bankruptcy-due-to-covid-19/ar-BB17z8VR?fbclid=IwAR2v5HtcPMkPVPndv_GRIMa5T4wTApY9eEDyoA0uCyES9cOfS916-HbNyIk
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