Virgin Atlantic: Will Virgin Atlantic go into administration?

Virgin Atlantic: Will Virgin Atlantic go into administration?

In addition to reducing its employees, Virgin Atlantic has also announced plans to reduce the size of its fleet of aircraft from 45 to 35 by summer 2020. 

They have also halted all operations from Gatwick Airport, with the option to resume flights there in future “in line with demand”. 

Mr Weiss said: “We have weathered many storms since our first flight 36 years ago, but none has been as devastating as COVID-19 and the associated loss of life and livelihood for so many. 

“However, to safeguard our future and emerge a sustainably profitable business, now is the time for further action to reduce our costs, preserve cash and to protect as many jobs as possible. It is crucial that we return to profitability in 2021.”

Published at Tue, 05 May 2020 15:35:00 +0000