Bloomberg Richard Branson’s Virgin Atlantic Airways filed for Chapter 15 bankruptcy protection in the US after telling a London court it was set to run out of cash next month if a pending rescue deal isn’t approved. The airline filed its petition in the Southern District of New York. Chapter 15 allows foreign companies with US assets to protect themselves …

Bloomberg American Airlines Group Inc is offering additional programs to encourage more pilots to leave the carrier, stepping up efforts to avoid forced furloughs later this year as the coronavirus pandemic guts travel demand. The options include a plan to alternate months of flying and unpaid time, leaves of absence of as long as three years and a voluntary early-exit …

Bloomberg Hedge fund manager David Einhorn said he bought a stake in Atlas Air Worldwide Holdings Inc in the second quarter, betting that the cargo carrier will benefit from a shortage of airfreight capacity caused by the coronavirus pandemic. Passenger planes handled about half the world’s airborne cargo before the pandemic, with most of it on long international flights, the …