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Breaking: Virgin Atlantic - which is 49% owned by Delta - files for bankruptcy as pandemic savages airline industry

 
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08/04/2020 04:56 PM
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Breaking: Virgin Atlantic - which is 49% owned by Delta - files for bankruptcy as pandemic savages airline industry
[link to www.dailymail.co.uk (secure)]

Virgin Atlantic has become billionaire Richard Branson's second airline to file for bankruptcy this year as the industry continues to be ravaged by the coronavirus pandemic.

Virgin Atlantic, which is based in London and 49% owned by Delta Air Lines, was forced to ground all passenger operations in April.

The airline took its planes to the skies once more in July but, as travel restrictions continue and consumer confidence is low, it has failed to draw the crowds back in.

Delta CEO Ed Bastian has previously made it clear Delta will not offer a cash injection to save Virgin Atlantic from bankruptcy, according to Business Insider.





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