It will be interesting to see how this pans out. For the the sake of the staff involved I hope they pull through.
If Virgin Atlantic goes how many routes would lose competition? Off the top of my head I am thinking a few Caribbean routes but there may be others.
Without that competition fares are likely to increase and with Norwegian also in a difficult situation I wonder if any other airlines would step in.
The chance of new airline start ups seems unlikely bearing in mind the lack of government support for the sector.
How many any of those currently commenting negatively on bailouts will then be doing the same about increasing fares?