Virgin Atlantic has had a tough recession, losing £150 million over the past two years. Virgin Atlantic, which primarily offers long-haul travel between the United Kingdom and other parts of the world, had just over 8,500 employees at … Breaking Travel News editor, Chris O’Toole, joins Virgin Atlantic as the carrier says goodbye to the Boeing 747 for the last time at Heathrow Airport Virgin Atlantic continues to review its flying programme on a regular basis, with a reduced schedule of passenger services for essential travel operating alongside cargo-only services to transport vital medical supplies and support global supply chains. Becoming A Virgin Atlantic A350 Training Captain Simple Flying 12:07 7-Jan-21. Virgin Atlantic invited press and some lucky members of the public to say their final goodbyes to the last superjumbo in the fleet — including a celebratory Champagne breakfast. Flybe: is there life in the old airline yet? New York/London (CNN Business) Virgin Atlantic has filed for bankruptcy in the United States as it races to finalize a $1.5 billion plan to rescue it from the aviation industry's worst crisis. New York/London (CNN Business)Virgin Atlantic has filed for bankruptcy in the United States as it races to finalize a $1.5 billion plan to rescue it from the aviation industry's worst crisis. Sister company Virgin Australia on Wednesday announced a, Global air travel isn't expected to fully recover from the coronavirus pandemic until 2024, according to the International Air Transport Association, which represents 290 airlines. Is it safe to travel to China as BA extends flight suspension? Virgin Atlantic said it had begun a 45-day consultation period on the job losses with unions Balpa and Unite. What went wrong with Flybe and what happens next? You can learn more about our use of cookies and your choices HERE.By clicking OK, LET'S GO! By Rob McLean and Hanna Ziady, CNN Business. Virgin and Ryanair rated worst for customer service, says Which? Virgin Atlantic is adding 12 cargo-only rotations per week to its schedule as demand for cargo flights remains high. Virgin Australia's Sydney, Melbourne lounges reopen Dec 15 Australian Business Traveller 01:56 7-Jan-21. Some good news, for a change, even if it feels a bit like celebrating one survivor amidst untold casualties. Hello you. Virgin Atlantic Airways Ltd. sold two Boeing Co. 787 jetliners to fund the repayment of a loan from hedge fund Davidson Kempner Capital Management that formed the basis of a … Virgin Atlantic files for bankruptcy protection in New York, How Emirates plans to return to 'new normal' by October 2020, Airlines causing ‘financial and emotional distress’ over refund delays, Ryanair, Virgin and Love Holidays worst companies for travel refunds, London to Barbados ‘first class only’ flight delayed. Becoming A Virgin Atlantic A350 Training Captain Simple Flying 12:07 7-Jan-21. Virgin Atlantic is targeting frequent British Airways flyers to switch allegiances. All rights reserved. Sir Richard Branson's Virgin Atlantic could run out of cash next month if creditors do not approve a £1.2bn rescue deal, a UK court has heard. The airline already had a record-breaking year last year by operating 4,000 cargo-only flights. Most stock quote data provided by BATS. What would the UK have looked like without Flybe? Virgin Atlantic will spare Europe from its massive and unannounced Delta redemption devaluation. Intercontinental travel ambitions have now been put on hold, Travellers from UK to New York face two week self-isolation, A third runway at Heathrow may still never happen, Virgin Atlantic to host pop up restaurant on Boeing 747, Quarantine for arrivals to England cut to five days with negative test, Flybe: possible resurrection welcomed by Virgin Atlantic boss, Paris CDG overtakes London Heathrow as Europe’s busiest airport, Government’s claims on airport testing are ‘flawed,” say airlines, Heathrow’s Covid testing facility opens today, Flybe will be back next year, claims venture capital firm, BA and Heathrow: ‘action needed immediately’ to limit damage to flying, Flights galore to Lahore: the classic spoiler is alive and well, Coronavirus: giant airlines cut flights and staff as recovery recedes, Business travellers could pioneer transatlantic flying, top bosses say, Virgin axes further 1,150 jobs after rescue deal confirmed, Government overseeing demise of UK aviation, airport boss warns, Virgin Atlantic to launch Pakistan flights from London and Manchester, Virgin Atlantic saved by ‘milestone’ £1.2bn bailout package, Virgin Atlantic to provide free coronavirus insurance, Virgin Atlantic to ‘run out of money’ in a month without bailout, Qatar Airways hands back almost £1bn to passengers, Ryanair, Virgin Atlantic and Tui still failing to pay refunds on time. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. News & Advice. Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. Virgin Atlantic Cargo is delighted to announce it is launching a new cargo service from London Heathrow to San Juan. 2011, file photo, Richard Branson, president of Virgin Atlantic Airways, attends a news conference in Miami Beach, Fla. Branson announced that Virgin … Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. The carrier increased capacity on key routes, expanding cargo operations from 21 to 33 per week, including daily service between London and Brussels. Virgin Atlantic Airways Ltd.’s lineup of potential backers has narrowed as Richard Branson’s airline races the clock to secure a bailout, people with knowledge of the situation said. Virgin Atlantic Airways Ltd. sold two Boeing Co. 787 jetliners to fund the repayment of a loan from hedge fund Davidson Kempner Capital Management that formed the basis of a … "The process we have asked to be recognized [in the United States] is a solvent restructuring of an English company... under the English Companies Act," a spokesperson for the company said in a statement. Sign up to receive the daily TPG newsletter for more airline news! Expert: Social media to extremism is like oxygen to fire, Watch this rocket launch from the wing of a jumbo jet, Hear Sandberg downplay Facebook's role in the Capitol riots, Airlines & TSA boost security ahead of Inauguration, Major GOP donor and casino magnate Sheldon Adelson dies, Why Wall Street is hopeful about Biden despite economic challenges, Parler sues Amazon in response to being deplatformed, This tech gives drivers directions on the road in front of them, The online warning signs of the violent Capitol siege, Richard Branson secures $1.5 billion rescue for Virgin Atlantic, Virgin Australia cuts 3,000 jobs and plans to focus on shorter flights. Become an FT Subscriber. or closing this message you agree to our use of cookies. City sources said that Virgin Atlantic, led by chief executive Shai Weiss, was now targeting an overall package of at least £800m and potentially as much as £900m, as talks with a wide range of stakeholders continue through the weekend. Virgin Atlantic’s Boeing 747 Airways News 13:19 7-Jan-21. For example Virgin Atlantic flight 4 from New York JFK touched down at London Heathrow earlier this morning, and departures for Los Angeles, … Coronavirus: Virgin Atlantic lenders brace for restructuring hit Virgin Atlantic's banks have hired Deloitte to advise them on their exposure to the troubled carrier, Sky News learns. This website uses cookies for analytics and to give you the best user experience when you visit our site. On Virgin Atlantic's 36th birthday, the airline reveals Heathrow links, Gatwick airport re-opens North Terminal with strict social distancing, Coronavirus: Virgin Atlantic to resume in late July – with new rules, Test, trace and stay put: the possible pitfalls of the tracking system, Cummings effigy hung from bridge under ‘make the rich pay’ banner, Virgin Orbit's first rocket launch over Pacific Ocean hits snag, Things may look bad for aviation, but we will fly again, As the coronavirus crisis lifts, we need to overhaul our tax system, Virgin Atlantic showed British Airways how to be great. Virgin Atlantic. Virgin Atlantic is a British airline offering flights around the globe. Virgin Atlantic has been hit hard by the pandemic Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. 'Not the end for Virgin Australia’ as airline enters administration, Virgin Atlantic needs government loan to survive, says Branson, Virgin Atlantic will temporarily operate cargo-only services, Virgin Atlantic to cut 80% of flights due to coronavirus, Why the coronavirus pandemic will lead to aircraft extinction, Grounded airline cabin crew to work at NHS coronavirus field hospitals, Airline staff to sign up as NHS volunteers during coronavirus pandemic, BA warns pilots of job cuts due to losses from coronavirus, Airlines being forced to operate ‘almost empty’ flights, Airlines encourage staff to take unpaid leave amid coronavirus crisis. The company, which is based in the United Kingdom, filed for Chapter 15 bankruptcy protection in New York on Tuesday, which shelters the US assets of foreign companies undergoing restructuring proceedings. Flybe collapses as coronavirus outbreak takes toll, Coronavirus won’t change long-term travel plans, says agent. Virgin Atlantic last month unveiled a £1.2 billion ($1.5 billion). Virgin Atlantic to cut third of staff to survive Covid-19 crisis Be a global citizen. 2011, file photo, Richard Branson, president of Virgin Atlantic Airways, attends a news conference in Miami Beach, Fla. Branson announced that Virgin … Virgin Atlantic has completed its 1.2 billion-pound ($1.6 billion) restructuring plan and cut 1,150 jobs as the airline seeks to rebuild following the devastation caused by the COVID-19 pandemic On Monday, Virgin Atlantic Flying Club announced an enhanced status match offer exclusive to elite members of British A irways’ Executive Club. The latest breaking news, ... Virgin Atlantic and easyJet staff to help with Covid vaccine efforts. Virgin Atlantic’s Boeing 747 Airways News 13:19 7-Jan-21. ... ABC News reported. What impact could deplatforming Donald Trump have? Virgin Atlantic has become Richard Branson's second airline to file for Chapter 15 bankruptcy in the U.S. this year as the industry continues to … Virgin Atlantic is upping its cargo operations throughout January as demand increases. Virgin Atlantic, which primarily offers long-haul travel between the United Kingdom and other parts of the world, had just over 8,500 employees at … Disclaimer. Virgin Atlantic Cargo increased (18-Jan-2021) cargo only operations by 60% in Jan-2021, noting: "Demand to transport cargo remains strong". Virgin Atlantic Completes $230 Million Sale and Leaseback of Two Boeing 787s By Reuters , Wire Service Content Jan. 15, 2021 By Reuters , Wire Service Content Jan. 15, 2021, at 4:28 a.m. FILE - In this June 16. Virgin Atlantic is a British airline offering flights around the globe. 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