'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. Virgin Atlantic Cargo increased (18-Jan-2021) cargo only operations by 60% in Jan-2021, noting: "Demand to transport cargo remains strong". 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 This website uses cookies for analytics and to give you the best user experience when you visit our site. Sign up to receive the daily TPG newsletter for more airline news! Third of Britons ‘to avoid overseas travel’ if coronavirus continues, Virgin Atlantic to scrap free limo for Upper Class passengers, British Airways records fastest ever New York-London flight, Travel chaos as hundreds of flights cancelled due to Storm Ciara, Why travellers should cash in on overbooked flights, Coronavirus: Virgin Atlantic joins airlines suspending China flights, Flybe collapse could close Southampton and Belfast airports, says MP, Flybe is the new British Leyland, says Ryanair boss. Members who have earned companion rewards, Clubhouse access or upgrades through the Virgin Atlantic Reward and Reward+ Credit Card, or the Virgin Atlantic World Elite Mastercard will have the validity of the voucher extended by 12 months e.g. 2011, file photo, Richard Branson, president of Virgin Atlantic Airways, attends a news conference in Miami Beach, Fla. Branson announced that Virgin … Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. 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 … Most stock quote data provided by BATS. Commencing on the 24 th November, it is the first time that the airline has operated cargo flying to Puerto Rico and it will be serving the destination twice weekly on a Boeing 787-9 aircraft.. ... Virgin Atlantic, which has 6,500 staff, is … VIRGIN Atlantic has launched a special offer on selected long-haul flights as part of its winter sale The airline is offering up to 30 percent off flights to destinations including Orlando, Las Veg… Virgin Atlantic has announced it plans to restart passenger flights from Heathrow Airport next month. Become an FT Subscriber. There's no doubt it will be a much leaner operation in future. By Rob McLean and Hanna Ziady, CNN Business. You can learn more about our use of cookies and your choices HERE.By clicking OK, LET'S GO! Find out all the latest news on Virgin Atlantic, along with flights, deals and more. Now, they're losing faith. or closing this message you agree to our use of cookies. Virgin Atlantic and easyJet staff to help with Covid vaccine efforts. ... ABC News reported. 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. The airline already had a record-breaking year last year by operating 4,000 cargo-only flights. Find our best fares on your next flights to the US and beyond, with a fantastic choice of food, drinks, award winning entertainment and onboard WiFi. 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. US hedge fund Davidson Kempner is providing £150 million ($188 million) in secured financing as part of the recapitalization plan, which Virgin Atlantic said will come into effect next month. Virgin Atlantic Cargo is delighted to announce it is launching a new cargo service from London Heathrow to San Juan. Virgin Atlantic. Virgin Atlantic. Virgin Atlantic … Is it safe to travel to China as BA extends flight suspension? What went wrong with Flybe and what happens next? LONDON (Reuters) - Virgin Atlantic, Richard Branson's airline which has been hammered by the pandemic, is close to finalising a deal to raise just over $230 million from two planes, enabling it … Richard Branson's Virgin Group is contributing £200 million ($262 million). Hello you. Photo: Getty Images. FILE - In this June 16. 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. Virgin Atlantic is adding 12 cargo-only rotations per week to its schedule as demand for cargo flights remains high. Virgin Atlantic is a British airline offering flights around the globe. Flybe collapses as coronavirus outbreak takes toll, Coronavirus won’t change long-term travel plans, says agent. But in true Virgin style, the airline wasn’t going to let her go without a proper send-off. Disclaimer. All rights reserved. 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. Factset: FactSet Research Systems Inc.2018. The latest breaking news, ... Virgin Atlantic and easyJet staff to help with Covid vaccine efforts. What impact could deplatforming Donald Trump have? Find out all the latest news on Virgin Atlantic, along with flights, deals and more. What would the UK have looked like without Flybe? Ex-Trump official who supports Biden stimulus plan speaks out, Biden signs executive order to promote $15 federal minimum wage, Biden revokes Keystone XL pipeline permit, Many believed conspiracy theories about Trump and the election. The carrier increased capacity on key routes, expanding cargo operations from 21 to 33 per week, including daily service between London and Brussels. 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. 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 times are ET. Virgin Atlantic: What does filing for bankruptcy protection mean? Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. 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. Virgin Atlantic has completed “financing transactions” relating to two Boeing 787 aircraft in partnership with Griffin Global Asset Management and Bain Capital Credit. News & Advice. 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. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. "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. Virgin Atlantic has already laid off 3,550 staff and closed its base at London's Gatwick airport, as aviation suffers its worst downturn ever because of the coronavirus pandemic. Virgin Atlantic has filed for bankrupt protection from creditors in the US, according to a court filing in New York on Tuesday. Virgin Atlantic is upping its cargo operations throughout January as demand increases. Flybe: is there life in the old airline yet? All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC 2018 and/or its affiliates. Virgin Atlantic has been hit hard by the pandemic Virgin Australia's Sydney, Melbourne lounges reopen Dec 15 Australian Business Traveller 01:56 7-Jan-21. 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. Flybe tax cut proposal branded ‘disaster for the environment’. Virgin Atlantic to cut third of staff to survive Covid-19 crisis Be a global citizen. Denmark bans tax haven firms from bailout money – will others follow? [more - original PR] Virgin and Ryanair rated worst for customer service, says Which? Morningstar: Copyright 2018 Morningstar, Inc. All Rights Reserved. FILE - In this June 16. Virgin Atlantic’s Shameful, No-Notice Devaluation. If the entire proceeds were to be shovelled into Virgin Atlantic in the form of new equity, Branson – in theory – would take a big step towards saving his 51%-owned airline. 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. Virgin Atlantic has already taken drastic action to cut costs, shedding more than 3,500 staff and closing its base at London Gatwick. Virgin Atlantic is set to increase its cargo-only flying by 60% this January as its operation continues to go from strength to strength. 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. Richard Branson warns Virgin Atlantic will collapse without £500m taxpayer-funded bailout - but offers own $100m private Caribbean island Necker as collateral. Becoming A Virgin Atlantic A350 Training Captain Simple Flying 12:07 7-Jan-21. Some good news, for a change, even if it feels a bit like celebrating one survivor amidst untold casualties. if the voucher expires on 15 May 2020, the new expiry date will be 15 November 2020. 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. 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 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. 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. Virgin Atlantic last month unveiled a £1.2 billion ($1.5 billion). 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 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 … 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. US travel ban to be tightened: How will it affect your holiday? Virgin Atlantic is a British airline offering flights around the globe. Virgin Atlantic will exit Gatwick airport, where it has been based for the past 35 years, and move leisure flying to London Heathrow as well as keeping its base at Manchester airport. News Corp is a network of leading companies in the worlds of diversified media, news, education, and information services. Virgin Atlantic, which has 6,500 staff, is also behind the effort to immunise the nation. 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. Virgin Atlantic is targeting frequent British Airways flyers to switch allegiances. 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. 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’s Boeing 747 Airways News 13:19 7-Jan-21. 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. This is cause for relief, but hardly praise. Want an ad-free experience?Subscribe to Independent Premium. Becoming A Virgin Atlantic A350 Training Captain Simple Flying 12:07 7-Jan-21. Virgin Atlantic said it had begun a 45-day consultation period on the job losses with unions Balpa and Unite. Virgin Atlantic’s Boeing 747 Airways News 13:19 7-Jan-21. "We remain confident in the plan," the Virgin Atlantic spokesperson added. Virgin Atlantic will spare Europe from its massive and unannounced Delta redemption devaluation. The group. Virgin Atlantic has had a tough recession, losing £150 million over the past two years. All rights reserved. Welcome to Virgin Atlantic. For example Virgin Atlantic flight 4 from New York JFK touched down at London Heathrow earlier this morning, and departures for Los Angeles, … Virgin and Ryanair rated worst for customer service, says Which? Virgin Australia's Sydney, Melbourne lounges reopen Dec 15 Australian Business Traveller 01:56 7-Jan-21. 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 … Indices Copyright s & P Dow Jones indices LLC 2018 and/or its affiliates massive and unannounced Delta redemption.. What went wrong with flybe and what happens next will others follow next month you the user. 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