What happened to Virgin Atlantic?
What happened to Virgin Atlantic? Virgin Atlantic filed for Chapter 15 bankruptcy protection in New York on 4 August 2020 as part of a £1.2 billion private refinancing package. The airline joined the SkyTeam airline alliance on 2 March 2023.
Is Virgin Atlantic in trouble?
Virgin's 2022 results, published on Wednesday, showed the transatlantic-focused airline's recovery from COVID-19, which it only narrowly survived. Revenues recovered to 98% of 2019 levels and it reported a pretax loss before exceptional items of 206 million pounds ($259.99 million).
Is Virgin airlines successful?
Virgin Atlantic has received a 5* Global Airline Rating in the 2021 APEX Official Airline Ratings for the 4th year running. This makes us the only British airline to have achieved this amazing milestone.
Will Virgin Atlantic survive?
We anticipate growing underlying EBITDA in 2023 and are on track to return to profitability in 2024.” Virgin Atlantic chief executive Shai Weiss adds: ”Belief, determination, and conviction ensured our survival. In 2022, it allowed us to move into recovery by proving that our plan is working.