Today news
Related News
Virgin Atlantic files for bankruptcy as coronavirus pandemic devastates aviation industry
Reading now: 745
manchestereveningnews.co.ukthe Mirror reports. It is the second of billionaire Richard Branson's airlines to file for bankruptcy following Virgin Australia seeking voluntary administration in April.Chapter 15 bankruptcy is designed for cases that involve more than one country.It allows foreign-based companies undergoing bankruptcy proceedings in their own country to access the US court system.It is understood the move effectively protects Virgin's US assets from UK creditors, as a UK court oversees claims.The airline is 49% owned by Delta Airlines.
In May Virgin Atlantic, which usually flies from Manchester to New York, Orlando, Barbados, Atlanta, Las Vegas and Los Angeles, announced it was suspending its Gatwick operations and cutting 3,150 jobs.
Read more on manchestereveningnews.co.uk
The website celebsbar.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
