Virgin Atlantic US Files For Chapter 15 Bankruptcy
Virgin Atlantic (US) has filed for Chapter 15 bankruptcy (via the Guardian) due to the ongoing COVID-19 pandemic.
A Virgin Atlantic spokesperson said that the company was pursuing a 'solvent restructuring' under British law. The filing means the airline is not yet going into liquidation or going out of business - but the company warned that if a deal with creditors isn't reached, it could run out of cash by September.
Chapter 15 bankruptcy is not the same as going into administration here in the UK. It's more of a strategy to stop the people the company is in debt to from demanding payments in times of financial difficulty by protecting assets. It's similar to what the owners of Cirque du Soleil did in June. During this phase, the company hopes to shield assets as they reorganise the company to save it from actually going bankrupt.
Join the FREE Mickey From The UK email club & never miss any of our Disney content
Tick the box to confirm you want to signup to our email club
HTML Link: Click the text box above which will highlight, and then copy/paste the link.
Welcome to a magical world that swings, slides and rocket-rides your mood until you start to feel a little more... you. Welcome to Walt Disney World Resort in Florida. Welcome back to being you.
... Read more >
While we don't tend to report on offers that aren't available for us Brits, this is an interesting one. The offers that us Brits get for Walt Disney World tend to be different than what the US gu... Read more >
Virgin Atlantic has unfortunately now followed suit with most of the industry and now charging customers to select the seats they want. This will result in much more expensive flights if you and ... Read more >
For the Brits who enjoy visiting Disneyland Paris, the EU Version of ESTA - named ETIAS - was originally slated to be launched in 2023, but was subsequently delayed in into 2024. Now, sources at ... Read more >
The Walt Disney World guest boat that travels between the Magic Kingdom area resorts is returning October 1st, 2023.
All aboard! 🛥️ Guests at Walt Disney World will once again be able to... Read more >
Disneyland Paris has announced that the new Halloween festival will begin October 1st and run through November 5th, 2023. The full press release is below.
Disneyland Paris Booking Guide
If yo... Read more >
Disney has today announced that the gold Walt Disney World 50th statues situated across the Walt Disney World theme parks will be sticking around a little longer! Disney will be removing the 50th... Read more >
In a new SEC filing, The Walt Disney Company disclosed a 10-year plan to "expand and enhance" its domestic and international parks, and cruise line capacity. Nearly double the amount spent in the... Read more >
Disneyland Paris and McDonald's have announced a new location will be constructed to host a new restaurant at Disney Village, Disneyland Paris.
Work on the new restaurant will begin in Septem... Read more >