LONDON - Virgin Atlantic is the latest airline to fall victim to the impact of the coronavirus pandemic, as lockdown restrictions continue to curtail travel worldwide.
The UK-based company said it had filed for bankruptcy in the US.
The airline is seeking protection under chapter 15 of the US bankruptcy code, which allows a foreign debtor to shield assets in the country.
It is the second Virgin-branded airline to struggle this year. Virgin Australia went into administration in April but was later bought by private equity group Bain Capital. The new owner is cutting 3,000 jobs.
Virgin Atlantic’s move comes less than a month after the company said it had agreed a rescue deal worth £1.2bn ($1.6bn) to secure its future beyond the coronavirus crisis.(FA)
