BA and Virgin bag £70m of taxpayer money to fly PPE back from China October 16, 2020 British Airways and Virgin Atlantic have been paid more than £70m of taxpayer money to ferry personal protective equipment (PPE) to the UK from China, as the government scrambles to stock up supplies in time for winter. BA, which is the second-largest airline in the UK, was handed £46m between May and July through a [...]
Virgin Atlantic joins calls for airport testing regime September 9, 2020 Virgin Atlantic’s chief executive has added his voice to calls for airport testing to replace the government’s blanket quarantine regime, saying it is the “only way” to get the economy going again. Speaking to the BBC this morning, Shai Weiss said: “The economy, which is already in deep recession will not take off unless we [...]
Virgin Atlantic to cut another 1,150 jobs after £1.2bn rescue deal September 4, 2020 Virgin Atlantic is cutting a further 1,150 jobs as part of a radical restructuring plan following its £1.2bn rescue deal. The airline, founded by Sir Richard Branson in 1984, said the cuts were a result of the “devastating” impact of the coronavirus crisis. It comes less than four months after Virgin said it was axing [...]
Virgin Atlantic unveils coronavirus insurance package on eve of crunch bailout vote August 24, 2020 Virgin Atlantic has today unveiled a comprehensive new coronavirus insurance package for all new and existing bookings up until the end of March next year. The new offer was revealed on the eve of a crunch High Court vote on a £1.2bn bailout package that could keep the carrier flying if it is approved. The [...]
Virgin Atlantic secures £1.2bn rescue deal after months of turbulence July 14, 2020 Sir Richard Branson’s Virgin Atlantic has secured a £1.2bn rescue deal after nearly four months of uncertainty over its future. The deal, which Sky News reported could be unveiled this afternoon, will save thousands of jobs at the embattled carrier. In a statement, chief executive Shai Weiss hailed the deal, saying that the “last six [...]
Virgin Atlantic secures £200m from Virgin in bid for £1bn rescue deal July 1, 2020 Virgin Atlantic has secured £200m in additional funding from parent company Virgin as the embattled carrier seeks a total of £1bn in the coming weeks in order to stay afloat. The airline, which has seen its planes grounded for three months due to the coronavirus pandemic, has had its finances decimated by the virus and [...]
Virgin Atlantic to restart flights to 17 destinations in August June 22, 2020 Virgin Atlantic has laid out plans to restart passenger flights to 17 more destinations from August onwards, following its initial return next month. The new tranche of destinations include Barbados, Tel Aviv, San Francisco and Miami, though the restart does depend on travel restrictions being lifted around the world. The announcement comes after the embattled [...]
Virgin Atlantic won’t fly until August under proposed quarantine measures – report May 15, 2020 The government’s plans to implement a 14-day quarantine period on incoming travellers to the UK would prevent Virgin Atlantic from resuming passenger flights until August. A source at the airline told Reuters that if the initiative, which was announced on Sunday, was approved, it would not be able to fill its aircraft. It said: “If [...]
Sir Richard Branson to sell $500m of Virgin Galactic stake to prop up other firms May 11, 2020 Sir Richard Branson is set to sell up to $500m shares in space tourism firm Virgin Galactic in order to prop up his other businesses, company filings published today showed. According to a submission to the US Securities and Exchange Commission, Branson will sell up to 25m shares in the company. At Friday’s close of [...]
Virgin Atlantic launches desperate plea for government support as buyout firms circle May 10, 2020 The chief executive of Virgin Atlantic has issued a last-ditch plea for a government bailout as a string of buyout firms circle the troubled carrier. Sir Richard Branson’s airline has failed to impress the Treasury with its request for a £500m taxpayer-funded rescue package, with chancellor Rishi Sunak stating support would be given only as [...]