NEW YORK, Aug 5 — Virgin Atlantic has applied for bankruptcy protection in the United States, court filings show, as the British airline — which has not flown since April because of coronavirus — seeks to tie up a rescue deal in the UK. The company — part-owned by Richard Branson —...
Wednesday, 05 Aug 2020 05:43 PM MYT
The company — part-owned by Richard Branson — grounded its planes in April because of the pandemic but announced plans for private funding worth £1.2 billion in July, what it called a “major milestone towards securing its future.” The company has said it plans to slash annual costs by £280 million per year and announced plans earlier in the year to axe more than 3,000 jobs as the pandemic grounded most of its fleet.
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