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.
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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.
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).
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.