Author Topic: Virgin Atlantic on the verge of collapse (if doesn't get government bailout)  (Read 594 times)

Offline Kobe Bryant

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Coronavirus: Branson offers Caribbean island to secure Virgin bailout
https://www.bbc.com/news/business-52354865

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@Dan any thoughts, on what will happen to Flying Club?

Offline Dan

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@Dan any thoughts, on what will happen to Flying Club?
It will be fine.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline ah giten

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Email from Virgin

"You may have seen headlines today regarding Virgin Atlanticís Chapter 15 filing. I wanted to contact you to provide some more context, make sure you have all the information, and to reassure you that if you hold a booking with us, itís safe.
Firstly, all our scheduled flights continue as normal. All upcoming flight and holiday bookings remain valid; Flying Club members can continue to earn and redeem their miles as usual; customers with cancellations can continue to make changes or request refunds, which are being processed; and our amazing people are ready to ensure you Fly Safe and Fly Well.

As announced on 14 July, we have taken a big step forward in securing our future, by launching a court backed process as part of a solvent recapitalisation of the airline and holiday business. The Chapter 15 filing in the United States is a procedural application to allow the US courts to recognise the restructuring process we are undertaking Ė in this case, the solvent recapitalisation of the airline under English law. Once approved and implemented, our plan will keep Virgin Atlantic flying.

For some independent analysis of what it means in practice, you can read this God Save The Points article.
 Thanks again for all your support. We look forward to welcoming you onboard soon.

Oli Byers
Senior Vice President Customer Loyalty | Virgin Atlantic"


Funny they note GSTP article.