Virgin Atlantic, the airline founded by British businessman Richard Branson, has filed for bankruptcy protection as the pandemic hammers the airline industry.
FILE - In this June 16. 2011, file photo, Richard Branson, president of Virgin Atlantic Airways, attends a news conference in Miami Beach, Fla. Branson announced that Virgin was starting flights between London and Cancun, Mexico. Virgin Atlantic, the airline founded by British businessman Branson, filed Tuesday, Aug. 4, 2020, for relief from creditors as the virus pandemic hammers the airline industry. The airline made the filing in U.S.
The airline made the Chapter 15 filing in U.S. federal bankruptcy court in New York after a proceeding in the United Kingdom. Branson appealed to the British government for financial help earlier this year — even saying that he would pledge his Caribbean island resort as collateral for a loan — but was rebuffed.
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