"Despite no help from government, their financing is now secure," he added. Hello you. Virgin Atlantic Pilot Redundancies. Virgin Atlantic is to cut a further 1,150 jobs and put another 600 cabin crew on extended furlough beyond October, despite securing a £1.2bn rescue plan that was signed off by a … Virgin Atlantic has been approached for comment on the job cuts. "No airline is immune from the recession," said Virgin Atlantic chief executive Steve Ridgway. Yesterday (5 May), Virgin Atlantic announced it would cut more than 3,000 jobs in the UK – almost a third of its UK […] Virgin gained approval for its rescue plan from UK and US courts this week. Joint Venture Agreement. Virgin Atlantic is based in Britain and is 51% owned by Richard Branson's Virgin group and 49% owned by U.S. airline Delta. Flybe – 400 jobs5 March: Flybe, Europe’s largest regional airline, collapsed into administration with the loss of more than 2,000 jobs, less than two months after a government bailout. Virgin Atlantic has announced plans to cut 3,150 jobs at the airline. “The thing that makes Virgin Atlantic is not the glitz and the glamour, it’s the heart and soul,” he said. The Covid-19 pandemic has taken a dreadful toll on employment in the aviation industry. As a direct consequence we will be parking approximately 75% of our fleet by 26 March and at points in April will go up to 85%. 'Mosul is healing': Rebuilding the historic city. - Head of cabin crew is disengaged from her workforce - Redundancies taking place and moral is low - Low pay - Virgin Atlantic was always about being more than an airline. ... before British Airways announced redundancies for up to 12,000 staff. Airlines, airports and tour firms have collectively shed thousands of jobs. Certainly not the airline it once was. Live news updates ... An aviation analyst has predicted mass redundancies at Virgin Australia and a future where the failed airline … The company is hoping its £1.2bn rescue plan will enable it to ride out the storm. Virgin Atlantic chief executive Shai Weiss said: "Together, we have achieved what many thought impossible and that is down to the efforts and sacrifices of so many across the company.". MORE than 3,000 jobs at the Virgin Atlantic and Virgin Holidays travel brands owned by billionaire Richard Branson are to be axed. The lay-offs are the latest from an industry caught in turbulent times. Lobbenberg warned: “This deal looks like it will get Virgin through the winter … but it’s unclear what will happen next year. The latest figures from the government show 9.6 million jobs ... Virgin Atlantic - 3,150. It’s highly leveraged and has no unencumbered assets. Virgin Atlantic Airways CEO Steve Ridgway said yesterday that the carrier will cut its winter capacity by 7% year-over-year, putting up to 600 jobs in jeopardy. The Restructuring Plan has been sanctioned by the English High Court and formally recognised in the US court. Your contact details are helpful so we can contact you for more information. Virgin Atlantic to cut 500 jobs. To try to cut down on crew redundancies, it said it would introduce a voluntary, company-financed furlough scheme for 600 crew members when the government-backed scheme ends in October. Aer Lingus – 900 jobs1 May: The Irish flag carrier, part of International Airlines Group (IAG), plans to cut 900 jobs. He urged the government to push for trials of a travel corridor to New York, with coronavirus infection rates similar to the UK. Airbus – 1,700 jobs30 June: The European planemaker announced plans to cut 15,000 jobs, including 1,700 in the UK, as it warned the coronavirus pandemic had triggered the “gravest crisis” in its history. Andrew Lobbenberg, of HSBC, said: “They are getting new hard cash of less than £400m which, in the context, isn’t that much. The package includes a pledge of £200m from Sir Richard Branson’s Virgin Group, the airline’s biggest shareholder, and creditors agreeing to reduce and defer Virgin Atlantic’s debts. Tui – 8,000 jobs13 May: Travel company Tui plans to cut up to 8,000 jobs worldwide in response to the coronavirus chaos engulfing the tourism industry. This change amounts approximately 80% reduction in flights per day by 26 March. Virgin Atlantic continues to review its flying programme on a regular basis, with a reduced schedule of passenger services for essential travel operating alongside cargo-only services to transport vital medical supplies and support global supply chains. "Until travel returns in greater numbers, survival is predicated on reducing costs further and continuing to preserve cash," it said. This is part of the strategy to reduce costs as the airline comes to terms with the impact of coronavirus. by Greg Rose. Since the 16 March it has not been possible for many travellers from the UK to get into the US if they do not have US citizenship and if they have been in the UK, Ireland, the Schengen zone, Iran, Brazil, or China within the past two weeks. The restructuring of Virgin Atlantic's workforce will follow a week of brutal job losses across Britain's aviation industry. Joint Venture Agreement. The announcement by Virgin Atlantic of 3,150 job losses – almost one third of its staff – marks the bitterest moment in the history of the airline that Richard Branson founded in 1984. It comes despite billionaire boss Richard Branson securing a £1.2billion rescue deal. Welcome to Virgin Atlantic. Sign up to the daily Business Today email. Sale fares are applicable to travel up until 15 December 2021. Virgin Atlantic is to cut a further 1,150 jobs and put another 600 cabin crew on extended furlough beyond October, despite securing a £1.2bn rescue plan that was signed off by a US court on Thursday night. Video'Mosul is healing': Rebuilding the historic city, French skiers swerve Covid in cross-country boom. Trade unions and staff were briefed about the redundancies on Tuesday May 5, reports Sky News. Weekly quiz: Know about these history-making directors? This change amounts approximately 80% reduction in flights per day by 26 March. journalists may contact you to discuss further. Airlines around the world have been haemorrhaging jobs, as they face a future in which fewer people travel, and fewer planes are able to fly. Crawley-based Virgin Atlantic is to lose around 500 support and managerial roles, which will be achieved through a combination of employees leaving, redeployment and redundancies. 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