Virgin Atlantic Lost Money for Years. Will a Pandemic Reboot Stop the Red Ink? – The Wall Street Journal
LONDON—For most of the travel industry, the pandemic has been an existential challenge. For Virgin Atlantic Airways, it was an opportunity.
Shai Weiss, who took over as chief executive in early 2019, cut costs and laid off nearly half the staff. He ditched Virgin’s cumbersome fleet of 747s and hit up investors for emergency cash. The perennially money-losing company launched new passenger routes across the Caribbean and Asia, and made cargo a central part of the business.
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