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Tuesday, September 22nd, 2020
Home » Tag Archives: LATAM bankruptcy

Tag Archives: LATAM bankruptcy

Virgin Atlantic files for bankruptcy as pandemic devastates airline industry

Airplane tail. Virgin logo

REUTERS, AUGUST 4, 2020 Virgin Atlantic declares bankruptcy after cutting over 3,000 jobs WASHINGTON/LONDON (Reuters) – Virgin Atlantic Airways Ltd is seeking protection from creditors in the United States under Chapter 15 of the U.S. Bankruptcy Code, which allows a foreign debtor to shield assets in this country, according to a court filing on Tuesday. Virgin Atlantic’s filing in U.S. …

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LATAM becomes largest airline yet driven to bankruptcy by coronavirus

passenger plane

REUTERS, MAY 26, 2020 (Reuters) – LATAM Airlines Group (LTM.SN), the continent’s largest carrier, filed for U.S. bankruptcy protection on Tuesday, becoming the world’s largest carrier so far to seek an emergency reorganization due to the coronavirus pandemic. The filing highlights the financial weakness of Latin America’s carriers, following a similar bankruptcy earlier this month by the region’s No. 2 …

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