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Chapter 11 Bankruptcy at LATAM and Virgin's Cosmic Girl-Rocket

#UdaanAviationNews #Aviation #LATAM #Bankruptcy #Virgin

#1 Virgin's Girl-Rocket deployed-off a 747



Virgin Orbit successfully released Launch one rocket from a Virgin Orbit 747 named COSMIC GIRLROCKET. A former Virgin Passenger 747 lately purchased by Virgin Glactic in 2015 to be used as stage one launch platform (or mother ship). Learn how interesting Airline Fleet Planning gets as a part of THIS module. It was then transferred to the Orbital launch subsidiary "VIRGIN ORBIT" with updated livery and attempted first launch on 25th May 2020.

However, an unidentified anomaly occurred which forced RICHARD BRANSON'S launch company to terminate the mission. The flight crew and cosmic girl successfully returned to their base in Mojave, California


#2 LATAM files for chapter 11 bankruptcy


Latin America's largest airline LATAM which was formed by merging CHILE'S LAN and BRAZIL'S TAM in 2012 has filled for CHAPTER 11 bankruptcy on 26th May 2020 at the US bankruptcy Court in the southern district of New York. Chapter 11 is a bankruptcy code in the US which initiates and provides reorganisation structure under bankruptcy law for any business in the states.

"To the extent permitted by law, the group would welcome other shareholders to participate in the process to provide additional financing" the airline tweeted. US carrier DELTA Inc is the largest shareholder in the airline other then Cueto & Amaro family and Qatar Airways which would provide up to 900 million dollars for debtors in the process.

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