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Virgin Atlantic Airline planes in Manchester Airport on June 8. Photo: Oli Scarff/AFP via Getty Images

British airline Virgin Atlantic filed for Chapter 15 bankruptcy on Tuesday as a result of the economic disruption set off by the coronavirus pandemic, Business Insider reports.

Why it matters: This is the second airline belonging to billionaire Richard Branson's Virgin Group to file for bankruptcy protection this year, following Virgin Australia's filing in April.

The bottom line: Delta, which owns 49% of Virgin Atlantic, has made it clear that it will not save the airline from potential bankruptcy restructuring with a cash injection, Insider reports. Virgin Atlantic said it would cut over 3,000 jobs in May.

Go deeper: Airlines' social distancing policies are starting to separate their stock prices

Go deeper

Airlines begin mass layoffs while clinging to hope for federal aid

Photo: Thierry Monasse/Getty Images

American Airlines and United Airlines said they will begin furloughing 32,000 employees Thursday, as federal aid that propped up the industry during the pandemic expires, with no deal in sight for an extension.

Why it matters: As many as 50,000 workers across the industry face immediate job losses unless lawmakers and the White House can agree on a broader pandemic-relief package that includes more federal aid for airlines.

Biden speaks with Macron for first time since diplomatic crisis

President Biden and French President Emmanuel Macron have a conversation ahead of the NATO summit in Brussels, on June 14, 2021. Photo: Dursun Aydemir/Anadolu Agency via Getty Images

President Biden on Wednesday spoke with French President Emmanuel Macron for the first time since a diplomatic row erupted over a scrapped submarine order, per the White House.

Driving the news: Macron said that the French ambassador will return to Washington next week and will resume working with senior U.S. officials.

53 mins ago - World

Scoop: U.S. and Israel held secret talks on Iran "plan B"

Bennett and Biden. Photo: Sarahbeth Maney/Pool/Getty Images

The U.S. and Israel held secret talks on Iran last week to discuss a possible “plan B” if nuclear talks are not resumed, two senior Israeli officials tell me.

Why it matters: This is the first time a top-secret U.S.-Israel strategic working group on Iran has convened since the new Israeli government took office in June.