Virgin Atlantic files for bankruptcy in New York

Virgin Atlantic has filed for bankruptcy in the United States as the aviation sector continues to battle the impact of the Covid-19 pandemic.

The UK-based airline is seeking protection under chapter 15 of the US bankruptcy code.

The move is designed to allow a foreign debtor to shield assets in the country.

Virgin Atlantic took the decision just weeks after securing a comprehensive recapitalisation.


Source : Breakingtravelnews