Thursday, 6 August 2020

Virgin Atlantic Explains US Cap15 Filing - Solvent Recapitalisation

You may have seen headlines today regarding Virgin Atlantic’s Chapter 15 filing in the United States. 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, it’s 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 – in this case, the solvent recapitalisation of the airline under English law.

Once approved and implemented, our plan will keep Virgin Atlantic flying.

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