That just won't happen. Virgin is a brand name with very liitle substance apart from it's image. If VS is allowed to go to the wall, the whole of the Virgin empire will be tarnished and substantially devalued. VS was already in trouble prior to 9/11 as a result of some bad business decisions, not least the re-branding of the J class product and that terrible seat. After 9/11, the airline was only days from going belly up with some drastic actions requred to kepp it and the whole of the Virgin empire going.
Richard couldn't let it happen then and won't let it happen now.