Virgin Atlantic Airline Files For Bankruptcy



Virgin Atlantic has become billionaire Richard Branson's second airline to file for bankruptcy this year as the 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.   
This comes just months after Virgin Australia filed for voluntary administration in Australia back in April.   
Airlines have been some of the hardest hit among the global health crisis as borders shuttered and flights were banned when nations went into lockdown. 
Virgin Atlantic, which is based in London and 49% owned by Delta Air Lines, was forced to ground all passenger operations in April.
The airline took its planes to the skies once more in July but, as travel restrictions continue and consumer confidence is low, it has failed to draw the crowds back in.   
Delta CEO Ed Bastian has previously made it clear Delta will not offer a cash injection to save Virgin Atlantic from bankruptcy, according to Business Insider.







Related Article


Posted By On 10:25 Tue, 04 Aug 2020

Comments:0 || Views:

Comment
Name




.....................

Please LOGIN or REGISTER To Gain Full Access To This Article


Wapbaze is an Entertainment website that deals in uploding of music tracks of any kind and letting her users download them in Mp3 formats of high quality. Wapbaze.com is the main website, Wapbaze.com/music/ is the folder for latest songs, wapbaze.com/movies/ is for mp4 movies updates so as wapbaze.com/videos/ is for 3gp music videos updates and wapbaze.com/forum/ is for latest gist, news, health and tech updates.