Virgin Atlantic filed for bankruptcy yesterday under Chapter 15 in New York. It told a London court that it would run out of money to continue operating in September. The airline is experiencing extreme financial difficulties due to the coronavirus, which is also what caused Virgin Australia to file for bankruptcy. Just because the airline filed for bankruptcy, it isn’t actually bankrupt, it is just a precaution. A $1.6 billion rescue package has been put in place to save the airline. Virgin Atlantic has already cut 3000 jobs and retired its 747 fleet, which are signs that things are not going well for the airline. 5th of August 2020.
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