Virgin Atlantic Completes Recapitalization, More Layoffs to Come | Aviation International News

Virgin Atlantic Completes Recapitalization, More Layoffs to Come

A U.S. court officially recognized the English High Court’s approval of Virgin Atlantic’s restructuring plan.

By Gregory Polek • Senior Editor

September 4, 2020

Following a U.S. district court’s recognition on Thursday of the English High Court’s sanctioning of a financial restructuring plan at Virgin Atlantic, the UK airline has completed its private-only solvent recapitalization. The final step in the legal process effectively rescues the company from collapse and allows it to continue its efforts to emerge from the Covid-19 crisis, Virgin Atlantic said on Friday.

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