Articles tagged “virgin atlantic”

Heathrow Airport Begins Selling $100 On-Site Covid Tests for Hong Kong, Italy

Heathrow Airport Begins Selling $100 On-Site Covid Tests for Hong Kong, Italy

Matthew Parsons, Skift

A step in the right direction, although some passengers might balk at the price tag and wonder why the UK government can't apply the same tests when they return.

1 week ago

This Company Is Travel’s First to Emerge From a Major Pandemic Bankruptcy

This Company Is Travel’s First to Emerge From a Major Pandemic Bankruptcy

Matthew Parsons, Skift

The European and Chinese backers of travel agency WorldStrides seem to think there'll be a rebound for international student travel. Do they know something we don't?

3 weeks ago

Virgin Atlantic Now Has 18 Months to Get It Right After Court’s Plan Approval

Virgin Atlantic Now Has 18 Months to Get It Right After Court’s Plan Approval

Airline Weekly

With a U.K. court's approval of Virgin Atlantic's $1.6 billion (£1.2 billion) restructuring plan, the troubled airline has 18 months to get its house in order. The pandemic forced it into an existential crisis, but Virgin Atlantic's troubles predate Covid-19.

2 months ago

Airlines Urge U.S. and Britain to Trial Virus Testing for Flyers to Revive London-New York Route

Airlines Urge U.S. and Britain to Trial Virus Testing for Flyers to Revive London-New York Route

David Shepardson, Reuters

Passenger testing could enable an "air bridge" between London and New York. Yet quick, accurate, and affordable tests remain rare.

2 months ago

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

Virgin Atlantic Files Chapter 15 Petition in U.S. to Assist Its Rescue in the UK

Bhargav Acharya, David Shepardson, and Jonathan Stempel, Reuters

The real restructuring happened three weeks ago, as Airline Weekly's analysts have noted. This move is just to facilitate that.

3 months ago

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.

4 months 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.

6 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.

6 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.

6 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.

7 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.

7 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.

11 months ago