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Virgin Atlantic files for bankruptcy amid coronavirus pandemic – NEWS.com.au
Virgin Atlantic files for bankruptcy amid coronavirus pandemic
Virgin Atlantic has filed for bankruptcy in the United States as it claims it will run out of cash next month without a rescue deal. The cash-strapped airline filed for Chapter 15 bankruptcy protection in New York, a move that allows a foreign company with US assets to protect itself from creditors as it works to secure a private rescue plan.
The move coincides with its stablemate Virgin Australia’s unrelated announcement it will axe 3000 staff – about a third of its workforce – and ditch Tiger…
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