British Virgin Islands

Sunday, Oct 25, 2020

Virgin Atlantic becomes billionaire Richard Branson's second airline to file for Chapter 15 bankruptcy protection as the industry continues to be ravaged by the pandemic and it's feared the carrier will run out of cash by next month

Virgin Atlantic becomes billionaire Richard Branson's second airline to file for Chapter 15 bankruptcy protection as the industry continues to be ravaged by the pandemic and it's feared the carrier will run out of cash by next month

Virgin Atlantic filed for Chapter 15 bankruptcy in New York on Tuesday. Chapter 15 allows foreign debtors to protect U.S. assets from creditors. Company says it is pursuing a 'solvent restructuring' under British law.
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