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Virgin Atlantic Files For Bankruptcy

Discussion in 'Other News' started by mjd4277, Aug 4, 2020.

  1. Aug 4, 2020 #1
    mjd4277

    mjd4277 Road Train Member

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    Last edited: Aug 4, 2020
    mjd4277, Aug 4, 2020
    mjd4277, Aug 4, 2020
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    D.Tibbitt and JonJon78 Thank this.
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  3. Aug 4, 2020 #2
    REO6205

    REO6205 Trucker Forum STAFF Staff Member

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    This might be the start of a trend. A lot of the major carriers are hanging on by their fingernails.
     
    REO6205, Aug 4, 2020
    REO6205, Aug 4, 2020
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    mjd4277 Thanks this.
  4. Aug 4, 2020 #3
    mjd4277

    mjd4277 Road Train Member

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    Ain’t it the truth. Some have converted their passenger aircraft to transport more cargo in the passenger areas(American,United for example). In Virgin Atlantic’s case a majority of their revenue was long haul overseas flights but with the pandemic their cash flow as all but evaporated almost overnight!
     
    mjd4277, Aug 4, 2020
    mjd4277, Aug 4, 2020
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  5. Aug 5, 2020 #4
    Chinatown

    Chinatown Road Train Member

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    Virgin Atlantic has filed for bankruptcy in the United States as it races to finalize a $1.5 billion plan to rescue it from the aviation industry's worst crisis.

    The company, which is based in the United Kingdom, filed for Chapter 15 bankruptcy protection in New York on Tuesday, which shelters the US assets of foreign companies undergoing restructuring proceedings in their home country.
     
    Chinatown, Aug 5, 2020
    Chinatown, Aug 5, 2020
    #4
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