London CNN Business Virgin Atlantic and Virgin Australia will need government support if they're to survive the economic crisis triggered by the coronavirus pandemic. More Videos Weekly initial jobless claims jump to , A challenging year for women: Millions are out of work.
Richard Branson: ‘Aviation can be carbon neutral sooner than we realise’
Australian Financial Review
London The second front in Richard Branson's fight to save his embattled airline empire exploded into life on Tuesday Wednesday AEST , with Britain-based Virgin Atlantic announcing it would slash almost a third of its workforce and shutter its Gatwick operation. Virgin Atlantic is also planning to cut 11 aircraft from its strong fleet within the next two years, ditching its Boeing s completely. Still, it's hoping to get back to 60 per cent of its pre-coronavirus flying capacity before the end of the year. The airline said it had to "reshape and resize our business to ensure that is it fit for the future in response to the severe impact of the COVID pandemic on the global economy, our nation and the travel and aviation industry". The airline estimates it could take two to three years to recover. The problems began when travel bans, border closures, lockdowns and consumer fears about the COVID pandemic sent air travel into precipitous freefall.
Virgin Atlantic announces new fuel will reduce carbon footprint by 50 percent (10/11/11)
Billionaire Richard Branson is on his private Caribbean island asking governments to support his Virgin Group of businesses, including iconic airline Virgin Atlantic. The seeming contradiction invites scorn. Virgin Atlantic has posted losses in five of the last seven years. Local competitor British Airways out-performs multiple times over.
Life has been quite a trip for Sir Richard Branson so far, and this weekend will be no exception as he flies to the US from Tel Aviv via London with space rockets on his mind. He is heading to Wall Street to ring the opening bell on the New York Stock Exchange as his spaceflight company, Virgin Galactic , becomes a listed company tomorrow. There is a certain urgency. It is 35 years since he launched his airline, Virgin Atlantic, and Branson is contemplating his 70th birthday next year. Brexit is a particular source of sadness.