Daily Management Review

Virgin Atlantic resumes flights from UK to Mumbai, Delhi, Tel Aviv and several US cities


British airline Virgin Atlantic, which is experiencing financial problems due to the COVID-19 crisis, will resume flights to Mumbai, Delhi, Tel Aviv, Lagos, Washington, Las Vegas, Boston and Seattle, according to the air carrier.

The airline intends to resume flights from the UK to 17 destinations this fall, including flights to Antigua, Grenada, Tobago and Barbados.

Starting in July, the company resumed flights to Hong Kong, New York, Shanghai, San Francisco and Miami.

Virgin Atlantic shareholders in July reached an agreement with investors and lenders to raise financing in the amount of about 1.2 billion pounds.

The shareholders of Virgin Group and Delta airlines, as well as a new attracted investor, the American hedge fund Davidson Kempner Capital Management, have promised to provide financial support, thanks to which the airline can return to profitability in 2022. The lenders also provided the airline with more than £ 450 million in loan deferrals.

Due to the crisis caused by COVID-19, Virgin Atlantic has cut 3.55 thousand jobs.

Virgin Atlantic was founded in 1984, 49% owned by the American airline Delta Air Lines. In 2019, the company carried 5.4 million passengers. The staff of Virgin Atlantic and a subsidiary of the travel company Virgin Atlantic Holidays numbers about 6.5 thousand people.

source: bbc.com