The reopening of the United States to travellers from the United Kingdom will benefit all airlines operating between the two countries, but it means ‘the world’ to the Virgin Atlantic, which is based in the United Kingdom and focuses on trans-Atlantic travel.
In an interview, CEO of the Virgin Atlantic, Shai Weiss stated that Virgin would not be Virgin without the Atlantic. Atlantic was the market at the heart of everything they did, he added.
Virgin Atlantic is 51 percent owned by billionaire Richard Branson’s Virgin Group, with the remaining shares held by the Delta Air Lines.
The company was on the verge of bankruptcy in 2020, as COVID-19 travel bans wreaked havoc on the industry. Prior to the pandemic, it relied on trans-Atlantic travel for up to 70 percent of its revenue.
The last of these restrictions will be lifted on Monday, when the United States reopens to fully vaccinated visitors from the United Kingdom. Virgin has benefited from the Britain’s opening to vaccinated citizens of America, since August.
Weiss expressed his delight with ticket sales to the United States, noting that the demand was particularly strong during the Thanksgiving holidays and the run-up to Christmas.
In response to a question about the next three to six months, he stated that there was a positive momentum.
IAG the parent company of British Airways, said on Friday that it was ‘very optimistic’ about the resumption of trans-Atlantic flights.
Virgin was able to survive the pandemic as a result of a 1.5 billion pound rescue deal between September 2020 and March 2021, as well as the axing of roughly half of its workforce to save money.
Weiss said that Virgin has no concerns about funding at the moment.
‘We’re in a better position now that things are opening up.’ Without elaborating on Virgin’s plans, he said that he believed that they would be able to strengthen their balance sheet even more.
The airline has been rumoured to be considering floating the next year, but Weiss refused to comment on ‘market speculation.
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