VirginAtlantic Files For Chap. 15 BK - No Help From Delta

Discussion in 'Regional & National Airlines' started by swamt, Aug 5, 2020.

  1. swamt

    swamt Veteran

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    Here goes another airline into the BK ring. I assume they did not get any kind of assistance from their gov. as the USA airlines did get. Hate to see Virgin Atlantic may go away, so hope they make it thru. A sad day for Branson and all employees.

    https://www.yahoo.com/news/richard-bransons-virgin-atlantic-second-192546110.html
     
  2. jimntx

    jimntx Veteran

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    Delta assumed that they would have certain amount of control over Virgin Atlantic when they bought interest in VA. Didn't happen with VA or Latam. I think Delta may now rethink the "buy an interest in the other airline" expansion theory. Hasn't really worked for them as yet.
     
  3. swamt

    swamt Veteran

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    Delta only got 49% because on the international laws tied it's hands and Delta knew this. I am thinking Delta wanted first pick at leftovers IF they do in fact go away or get into even worse trouble down the road. Then Delta would expand heavily where VA currently flies most of their flights. Just a guess by me...
     
  4. eolesen

    eolesen Veteran

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    Perhaps one reason Delta hasn’t stepped up is because of CARES Act restrictions — I seem to recall at one point there was language which limited their ability to invest in or take control of another carrier.
     
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  5. swamt

    swamt Veteran

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    Good point E. And to be quite honest, Delta is penny pinching like all airlines are too. No extra spending of any cash for the time being. Cash hoarding gig time...
     

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