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 Australias unrelated announcement it will axe 3000 staff about a third of its workforce and ditch Tigerair Australia under its plan to emerge from voluntary administration.
London-based Virgin Atlantic, which is co-owned by Richard Bransons Virgin Group and US airline Delta, has been particularly hard-hit by the COVID-19 pandemic as it flies only long-…
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