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Virgin Atlantic Declares Bankruptcy Due to Coronavirus Pandemic
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The international airline Virgin Atlantic filed for Chapter 15 bankruptcy in New York Tuesday, the second airline in billionaire Richard Branson’s Virgin Group to do so. Virgin Australia made a similar filing in April. Delta Airlines owns nearly half of Virgin Atlantic and has said in statements it will not infuse the struggling airliner with cash. The coronavirus pandemic has all but stalled air travel across the globe and slashed industry revenue by double-digit percentages. Virgin Atlantic, which primarily flies international routes, suspended passenger flights entirely in April due to COVID-19, only restarting them in July. It laid off 3,000 workers in May.