Virgin Atlantic announced (05-May-2020) plans to commit to a number of restructuring measures in response to the coronavirus outbreak. Details include:
- Fleet optimisation: Retirement of a number of Boeing 747-400s and all A330-200s by 2022;
- Network optimisation: Consolidation of operations at London Heathrow Airport and Manchester Airport. The carrier will relocate its network from London Gatwick Airport to Heathrow, with the intention of retaining its slot portfolio at Gatwick in the event that eventually demand returns to justify serving the location;
- Staff cuts: Reduction in staff by 3150 across all business segments, with a company wide consultation period of 45 days commencing with immediate effect.
Virgin Atlantic CEO Shai Weiss commented: "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". He stressed the measures to be undertaken are "crucial" for the carrier to return to profitability in 2021. [more - original PR]