When at age 15 Sir Richard Charles Nicholas Branson, future co-founder of the transnational corporation Virgin Group,launched a school magazine, as part of his protest against the war in Vietnam, a school headmaster gave him two options: leave school or wrap up the magazine. Branson chose to leave and the headmaster noted then that in the future he would either go to prison or become a millionaire. As it turned out, he was not mistaken....
Flybe is seemingly on the brink of collapse, as the British government reportedly will refuse to provide a $128 million (£100 million) loan to the regional airline. If the lawmakers decide not to cut Air Passenger Duty (APD) tax, the airline might become insolvent in the coming months, reports indicate....
Just a year ago, Flybe solved its financial issues when a Virgin Atlantic led consortium purchased the carrier. Yet now, the airline is on the brink of collapse once again, potentially leaving thousands of passengers and employees stranded....
Virgin Group founder Richard Branson has reportedly backtracked on plans to sell a 31% stake of Virgin Atlantic to Air France-KLM. Branson will retain full control of the airline after scrapping the deal, which would have seen the Franco-Dutch group acquire a 51% majority stake in the carrier....
Virgin Australia Group, the parent company of the second largest airline in Australia, has reported $315.4 million loss within the last year, making it the seventh consecutive year of losses. To deal with increasing “headwinds”, such as rising fuel prices and currency exchange rates, the company is continuing with cost savings that include 750 job cuts. ...
Once written-off as another European airline headed for collapse, the struggling British regional airline Flybe finally has the go ahead for new ownership. Virgin Atlantic’s Connect Airways (UK) has received approval by the European Commission to acquire and merge with the carrier and Stobart Air (Ireland). The Virgin-led consortium hopes the takeover will secure a better future for the airline, including improving its image: Flybe has been...
The joint venture of Air France KLM, Delta Air Lines and Virgin Atlantic pose no threat to competition within the European Economic Area, authorities find....
With the completion of a major biofuel trial at Brisbane Airport (BNE), Virgin Australia and its partners just became the first to supply renewable jet fuel into a commercial airport infrastructure in the country....
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_crop.jpg "EU clears acquisition of 31% of Virgin Atlantic by Air France-KLM")
