New York, 4 August 2020 – This morning Virgin Atlantic Airways filed for Chapter 15 bankruptcy in the US – staving off debtors whilst the airline attempts to finalise a rescue plan in the UK courts. Following in the footsteps of fellow Virgin Group airlines; Virgin Australia and TigerAir, Virgin Atlantic Airways has begun proceedings…
Bogota, 10 May 2020 – The second-largest airline of Latin America, Avianca, has today applied for Chapter 11 bankruptcy protection through its New York Stock Exchange-listed parent company Avianca Holdings S.A at a New York court. The filing was necessitated by the unforeseeable impact of the COVID-19 pandemic, which has resulted in a 90% decline…
Canberra, 2 April 2020 – Virgin Australia could be one of the largest victims of the COVID-19 pandemic and global travel downturn after the Australian government rejected a bailout request by them to the tune of $1.4billion. Instead the government has suggested that Virgin Australia should seek to increase equity from its partners which include…
February 2020 has claimed another victim of the Airline Industry to bankruptcy just a day after Air Italy. This time it is Turkey’s AtlasGlobal, who back on 26th November 2019 announced a temporary suspension of all flight operations. Scheduled flights recommenced on the 16th December 2019 using two Airbus A321’s serving Turkish domestic destinations as…