Virgin Atlantic presents the declaration of bankruptcy

Virgin Atlantic presents the declaration of bankruptcy

International tourism

Virgin Atlantic, the second carrier over a radio of Great Britain, has submitted on Monday its bankruptcy petition in New York under chapter 15 of the commercial law. It is the last airline that carried out this operation.

The british subsidiary of the Virgin group is the second that presents bankruptcy, after that what did Virgin Australia. However, while in Australia the company ceased operations and was put up for sale in this case you can continue flying while it reorganizes its finances –or, rather, as it passes the pandemic.

Virgin Atlantic, which until now had bases at Heathrow and Gatwick (but has closed the second), is the property of Richard Branson’s 51 percent, and Delta, the american company, in the rest. Only has long-haul flights and had recovered to normal in July.

Chapter 15 is a type of bankruptcy that is applicable in companies operating at the time in several countries, and leaves that can act in the american judicial system. Latam, Avianca and Aeromexico are also welcomed to the u.s. legislation.