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The company also controls Surf Air, a private air travel company providing the ability to access short-haul regional flights that range from 50 to 500 miles. [4] [5] In September 2020, Surf Air Mobility secured a commitment for $200 million in funding from Global Emerging Markets Group (GEM). [6] [7]
The airline also operates a limited number of short-haul international flights. [5] Australian law prohibits majority-foreign-owned local airlines, like Virgin Australia, from operating international flights to and from Australia. [ 6 ]
[40] [41] [42] In December 2019, Branson announced that he would be scrapping the sale of a 31% stake in the airline to Air France-KLM and that Virgin Group would retain its 51% shareholding. [43] In the same year, Virgin Atlantic stopped flying to Dubai, a major aviation and tourism hub owing to COVID and issues related to competition.
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Spirit Airlines said Monday it has filed for Chapter 11 bankruptcy protection after struggling with losses, growing debt and a failed merger during the post-pandemic travel lull.
In January, Ryanair cut its November profit estimate by 5% to between €1.85 billion ($2 billion) and €1.95 billion ($2.13 billion) after it was forced to lower fares to fill seats when travel ...
Branson said that he wept when the sale was completed because the record business had been the very start of the Virgin empire. He created V2 Records in 1996 to re-enter the music business, owning 5% himself. [41] Virgin also acquired European short-haul airline Euro Belgian Airlines and renamed it Virgin Express.
In March 2013, Virgin Atlantic resumed operations of narrowbody Airbus A320 family aircraft, with four Airbus A320-200s wet-leased from Aer Lingus to operate short-haul, domestic services from its Heathrow hub. [11] The services were operated by Virgin Atlantic Little Red, a new subsidiary airline founded for the operation of the services. Due ...