Articles tagged “virgin atlantic”

UK Airports Warn 20,000 Jobs at Risk as Travel Slump Continues

UK Airports Warn 20,000 Jobs at Risk as Travel Slump Continues

Sarah Young, Reuters

This dire outlook could improve if the government agrees to several measures, including dropping the quarantine, but unfortunately it's not got a great track record in looking out for the aviation sector.

2 weeks ago

Richard Branson to Sell Up to 12 Percent Stake in Virgin Galactic

Richard Branson to Sell Up to 12 Percent Stake in Virgin Galactic

Rob Davies, The Guardian

Virgin Group will sell about $500 million shares in Virgin Galactic, the space-tourism venture, to raise funds for its other travel businesses. The move by owner Richard Branson signals the wallop still awaiting space tourism and travel generally.

2 months ago

Virgin Atlantic Hires Bank in Search for Emergency Funds

Virgin Atlantic Hires Bank in Search for Emergency Funds

Rupert Neate, The Guardian

If the investors reportedly being approached to help save Virgin Atlantic don't step up, Richard Branson's bluff will have been called, and he may need to commit some of his own wealth. That, or see the airline suffer the same fate as Virgin Australia.

2 months ago

Ryanair CEO Mulls Further Cuts While Slamming Virgin Atlantic’s Bid for State Aid

Ryanair CEO Mulls Further Cuts While Slamming Virgin Atlantic’s Bid for State Aid

Alistair Smout and Vera Eckert, Reuters

The always lively Ryanair CEO Michael O'Leary said it's "almost inevitable" that his budget airline will make workforce reductions of up to 20 percent for its winter schedule. Layoffs may come sooner if flights don't resume at the level he is hoping for in June.

2 months ago

UK Airlines Demand Tax Breaks After Government Rules Out Financial Support

UK Airlines Demand Tax Breaks After Government Rules Out Financial Support

Sarah Young, Reuters

The major airlines are desperate for a break, but with a government that assumes they've deep pockets, their calls for help will likely fall on deaf ears.

3 months ago

Richard Branson Pledges $250 Million to Help Virgin Companies Battle Coronavirus

Richard Branson Pledges $250 Million to Help Virgin Companies Battle Coronavirus

Reuters

The $250 million pledge sounds like a lot of money, but in this situation probably isn't. It'll also be interesting to see what form the investment actually takes.

4 months ago

Richard Branson Changes Mind on Selling Virgin Atlantic Stake

Richard Branson Changes Mind on Selling Virgin Atlantic Stake

Christopher Jasper, Bloomberg

This might be a win-win for all sides involved, especially given the expanded joint venture already in the works. Richard Branson gets to keep control of his beloved airline and Air France-KLM Group can use the money elsewhere.

7 months ago

U.S. Greenlights Delta to Expand Joint Venture With European Airlines

U.S. Greenlights Delta to Expand Joint Venture With European Airlines

Associated Press

This decision raises concerns about rising ticket prices due to reduced competition. The U.S. Transportation Department said it will try to ensure a competitive marketplace, but that may prove difficult to do.

8 months ago

Richard Branson Has Big Plans for Virgin’s Travel Brands in 2020

Richard Branson Has Big Plans for Virgin’s Travel Brands in 2020

Christopher Jasper, Bloomberg

While Richard Branson and the Virgin Group have had attempted to break into many industries over the years, travel has remained an enduring part of the business. This looks to continue with cruises, hotels, and space tourism as key areas of focus.

8 months ago

Heathrow Airport Wants to Give Virgin Atlantic a Competitive Edge

Heathrow Airport Wants to Give Virgin Atlantic a Competitive Edge

Christopher Jasper, Bloomberg

Virgin Atlantic has always talked a good game in relation to challenging British Airways but never quite delivered. Getting more slots at Heathrow Airport would give it ample opportunity to expand.

9 months ago

Virgin Atlantic Unveils Massive Growth Plans With a (Major) Catch

Virgin Atlantic Unveils Massive Growth Plans With a (Major) Catch

Brian Sumers, Skift

On a branding and product level, Virgin Atlantic has long punched above its weight. But overall, Virgin Atlantic is just another undersize airline trying to squeeze out a profit amid intense competition. Perhaps Heathrow's expansion will change that. But don't bet on it.

10 months ago

Virgin Atlantic CEO Predicts Airline’s Issue With Rolls-Royce Engines Is Almost Over

Virgin Atlantic CEO Predicts Airline’s Issue With Rolls-Royce Engines Is Almost Over

Brian Sumers, Skift

Earlier this week Emirates President Tim Clark blasted two engine manufacturers for producing shoddy products. Virgin Atlantic has had more than its share of problems with Rolls-Royce engines, but the airline's CEO said the situation is improving. Finally.

10 months ago