All Virgin Atlantic Airways articles – Page 5
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AnalysisWhy transatlantic return matters so much to airlines
When Virgin Atlantic broke the news it would need to cut over 1,000 more jobs, even having secured its future within £1.2 billion ($1.6 billion) in refinancing commitments, it underlined just how damaging the failure to reignite the key transatlantic market was.
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NewsVirgin Atlantic to cut 1,150 more jobs after restructuring approved
UK carrier Virgin Atlantic is to cut a further 1,150 jobs after formally securing court approvals for a restructuring plan which will unlock £1.2 billion ($1.6 billion) worth of refinancing.
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NewsUK court formally backs Virgin Atlantic restructuring plan
Virgin Atlantic has completed another step in its planned recapitalisation after a court today approved its restructuring plan.
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NewsVirgin Atlantic adds back five routes to network in September
UK carrier Virgin Atlantic is restoring flights to Atlanta, Lagos, Tel Aviv and the Indian cities of Delhi and Mumbai this month as the restructuring airline rebuilds its network amid coronavirus.
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NewsVirgin Atlantic to serve Pakistan from London and Manchester
Virgin Atlantic will begin operating routes from London Heathrow to Lahore and Islamabad and from Manchester to Islamabad in December. The carrier is looking to take advantage of relatively resilient demand for visiting friends and relatives, and to take a slice of cargo trade between Pakistan and ...
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NewsVirgin Atlantic creditors back rescue plan
Virgin Atlantic’s recapitalisation efforts have been boosted after creditors voted in favour of its restructuring plan.
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NewsCreditors to vote on Virgin Atlantic restructuring plan on 25 August
Virgin Atlantic creditors will vote on the UK carrier’s restructuring plan at a meeting on 25 August after court proceedings in London yesterday.
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NewsVirgin Atlantic seeks bankruptcy protection in New York
UK carrier Virgin Atlantic Airways has filed for Chapter 15 bankruptcy protection in the USA, stating that it will run out of cash in September after months of attempts to cut costs, raise capital and seek UK government assistance.
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NewsVirgin Atlantic eyes profit from 2022 after sealing vital £1.2bn refinancing
Virgin Atlantic has finalised a £1.2 billion refinancing package over the next 18 months.
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NewsVirgin Atlantic to resume services with five US and Asian destinations
UK long-haul operator Virgin Atlantic is aiming to restore passenger services from 20 July, unveiling an initial set of routes to US and Asia-Pacific destinations. Virgin Atlantic plans to add further routes in August. The carrier says it will resume passenger operations from London Heathrow to Hong Kong ...
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NewsFor Virgin Orbit, partial success is major milestone
First attempt to fly Virgin Group’s satellite launch system ends after 9s with engine shutdown, but wealth of data and smooth run through ground operations routine offers encouragement
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NewsBranson to sell shares in Virgin Galactic to help troubled travel businesses
Richard Branson’s Virgin Group is looking to sell some of its stake in Virgin Galactic to help raise proceeds to support its troubled leisure, holiday and travel businesses.
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PodcastAirline Business podcast: What will industry look like when flying restarts?
With talk in some regions turning to how airline markets might open up again as coronavirus cases peak, Graham and Lewis examine the current state of the industry and where it might be heading. Among the topics considered, they look at Virgin Australia’s demise and the moral hazard faced ...
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NewsVirgin Atlantic needs state support to survive: Branson
Virgin Atlantic needs government support to survive the coronavirus crisis, the airline’s founder warned today.
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NewsVirgin Atlantic to cut 80% of flights and ground 75-85% of fleet
Virgin Atlantic will reduce its flight schedule by 80% and park three-quarters of its fleet by 26 March, in addition to asking staff to take eight weeks of unpaid leave as it seeks to conserve cash and safeguard its future. The UK carrier says it is taking the ...
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NewsIAG not seeking state aid as Virgin appeals for government credit
IAG has not approached governments for state aid to assist the company through the coronavirus crisis, chief executive Willie Walsh has disclosed. Speaking during a 16 March briefing, Walsh said the company had not followed other individual carriers in seeking financial assistance from governments. “Governments would expect airlines ...
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NewsCoronavirus dealt fatal blow to embattled Flybe: shareholder
Impact of the coronavirus outbreak sealed the fate of struggling UK regional carrier Flybe, shareholder Virgin Atlantic has claimed. Virgin Atlantic was one of three investors in the Connect Airways consortium which took over Flybe a little more than a year ago and intended to develop the airline as ...
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NewsVirgin Atlantic to resume Cape Town flights after six year absence
Virgin Atlantic is resuming seasonal service to Cape Town, six years after axing the South African city from its network.
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NewsAir France-KLM seeks new equilibrium with Virgin Atlantic
Air France-KLM has confirmed it is renegotiating with Virgin Atlantic the terms of their planned transatlantic joint venture with Delta Air Lines, after the UK carrier’s majority shareholder Richard Branson disclosed that he had scrapped a plan to sell a stake to the Franco-Dutch group.
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NewsVirgin A350-1000 sale influenced by subsidies: WTO
Virgin Atlantic’s order for 12 Airbus A350-1000s has played a central part in the World Trade Organization’s latest assessment as to whether subsidies influenced the competitive field against Boeing in the commercial aircraft market.