the Mirror reports. It is the second of billionaire Richard Branson's airlines to file for bankruptcy following Virgin Australia seeking voluntary administration in April.Chapter 15 bankruptcy is designed for cases that involve more than one country.It allows foreign-based companies undergoing bankruptcy proceedings in their own country to access the US court system.It is understood the move effectively protects Virgin's US assets from UK creditors, as a UK court oversees claims.The airline is 49% owned by Delta Airlines.
In May Virgin Atlantic, which usually flies from Manchester to New York, Orlando, Barbados, Atlanta, Las Vegas and Los Angeles, announced it was suspending its Gatwick operations and cutting 3,150 jobs.
Read more on manchestereveningnews.co.uk
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