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July 30, 2015 7:35 PM ET

Airlines

Company Overview of Virgin Atlantic Ltd.

Company Overview

Virgin Atlantic Ltd., through its subsidiaries, provides domestic, regional, and international air transportation services to passengers and cargo. The company also provides air traffic management services in the United Kingdom and Oceanic airspace. The company was incorporated in 1998 and is based in Crawley, United Kingdom. Virgin Atlantic Ltd. operates as a subsidiary of Virgin Group Ltd.

The Office Manor Royal

Crawley,  RH10 9NU

United Kingdom

Founded in 1998

Phone:

44 12 9356 2345

Fax:

44 12 9344 8373

Key Executives for Virgin Atlantic Ltd.

Chief Executive
Age: 56
Chairman and President
Age: 65
Director of Engineering
Executive Vice-President of Commercial
Age: 54
Marketing Director
Compensation as of Fiscal Year 2015.

Virgin Atlantic Ltd. Key Developments

Virgin Atlantic to Cut 500 Jobs

Virgin Atlantic is to axe up to 500 staff in an attempt to keep the airline's rocky finances on track. It would be 'structuring the business in a simpler, more efficient way' by cutting 500 jobs in support and managerial roles, through redeployment and redundancies, by the end of the year. The airline returned to profit this year after three years of heavy losses, and chief executive Craig Kreeger has pledged to restore sustained record profits by 2018.

Virgin Atlantic Names Erik Varwijk as its New Executive Vice-President, Commercial

Virgin Atlantic has named Erik Varwijk as its new executive vice-president, commercial. Varwijk stepped down from his role as executive vice-president of Air France-KLM Cargo in March. He will take up his new role on June 15 and be responsible for leading all commercial teams across the business including sales and customer engagement, marketing and customer experience, network and alliances and revenue management.

Virgin Atlantic Reports Group Earnings and Production Results for the Year Ended 31 December 2014

Virgin Atlantic reported group earnings and production results for the year ended 31 December 2014. For the year, the company reported profit before tax and exceptional items of £14.4 million, representing an improvement of £65.4 million on the previous year's pretax loss of £51.0 million. Group revenue was £2.9 billion. For the year, the company reported average revenue passenger load factors of 77.38%.

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