It is 2021 we have achieved more than what humans could have imagined a century ago. Let us not talk that way back but think of the last two centuries when our parents were in their early thirties. The world has changed dramatically since then. We now have augmented reality and self-driving cars. Imagining such things was considered stupid because there was no proof that years down the lane, such stupidity will become a reality. Presently we cannot imagine our life without all these technological advancements because we have never seen life without them. Let’s know Who Owns Virgin Airlines?
None of us want to give up the luxuries this passing time has provided us. We do not have to go to the supermarket because we can order whatever we want directly at our homes. The online culture has been a boon to our time management. Before the beginning of this online trend, we had to go through aisles of several shops only to select one dress. Now we can search for anything with an image or a mere description of the service we require. See how easy things have become these days.
With the passing times, there have been developments in different sectors such as the shopping sector, food sector, technological sector, and the automobile industry. As compared to the progress in these sectors two decades ago, the present scenario is a milestone. These developments have made our lives easy. We can do so many things effortlessly and at a fast pace, be it communicating across boundaries or getting your food delivered to your doorstep. Who would have imagined this to happen in the year 1900, none of them right? But look at us, here we are inventing humanoids, sending civilians into space, and bringing back foldable phones with a twist.
Revolutions in the automobile industry
When it comes to technology, we start discussing mobile phones, virtual reality, and humanoids. We should be discussing automobiles because automobiles have come a long way from horse and bull-driven carts to self-driving cars. From flying a kite to flying to the moon, from wooden boats to submarines, and whatnot. These advancements have reduced the time that traveling from one place to another consumes. With the introduction of airplanes and bullet trains, even the longest distances have become shorter than they were earlier. No wonder, the world has become a smaller place.
Fastest transportations
Now that we are talking about automobiles, talking about the fastest means of transport is necessary. Ever since air transport came into existence, the dream of flying like a bird has been realized. When the Wright brothers flew the first airplane, they must not have imagined their application being used for modern-day supersonic aircraft. Aircraft have helped link countries that lie beyond the sea. Along with this, air transport has helped reduce the time required to travel manifold. Air transport has made sending and receiving shipments easy through air freight or air cargo services.
If we ask around, almost all of us have traveled using Air transport to make the journey easy and fast. There were times when air travels were expensive, and not everyone could afford a ticket, only the richest had the luxury to sit in an airplane. But with the changing times, globalization, and the economic boom of the 21st century, almost everyone can afford the luxury of traveling in a flight.
With more and more private companies starting their airlines, travel has become economic. There are a lot of prices to compare to each other and get the best deals for yourself. One such airline that gives its passengers the best hospitality and offers is Virgin Airlines. Let us find more about this venture by reading ahead.
About Virgin Airlines
Owned and operated by Sir Richard Branson, founder of the Virgin Group, Virgin airlines also known as Virgin Atlantic is a British airline with its head office in Crawley, England. Virgin Atlantic is a trading name for Virgin Atlantic International Limited and Virgin Atlantic Airways Limited. The name of the company when it was established in 1984 was British Atlantic Airways. It was originally planned to fly between London and Falkland Islands by its co-founders Randolph Fields and Alan Hillary. Later on, Randolph Fields sold his shares over a disagreement regarding the management of the company. The first flight by Virgin Airlines took place on 22 June 1984 between Gatwick Airport and Newark International Airport.
The CEO and founders
The current CEO of Virgin Atlantic is Shai Weiss. He has been in this position since 1 January 2019. Shai Weiss is also the executive director of the Virgin Atlantic board. The airline was originally founded by Sir Richard Branson, along with Allan Hellary and Randolf Feilds.
Income of the founders
Richard Branson, the owner and founder of the airlines, hotels, and many other companies has a whooping net worth of 4.8 billion dollars. Shai Weiss, the current CEO of Virgin Atlantic, has a total net worth of around 2.8 billion dollars. On the other hand, Randolf Feilds sold his shares of Virgin Atlantic after differences with Richard Branson to become a millionaire himself.
Market Share
In 2014, it was reported that the annual market share of the company was about 4.7 percent. In the survey of 2018, the airline was reported to have an annual market share of 3.1 percent. The airlines suffered massive losses between the years 2007 and 2013. However, the business is comparatively successful in recent times. The pandemic took a toll on the business, and the airlines underwent an extreme drop in the number of travelers. Thus, decreasing their market share.
Revenue Generation
The annual revenue of the company varied between the years 2013 to 2019. The revenue generation decreased from 2.5 billion British pounds to 2.1 billion British pounds. In 2019, Virgin Atlantic Airways produced revenue of 3 billion British pounds. The annual revenue generation dropped dramatically in 2020 as a result of the pandemic.
Does Virgin Airlines belong to the Virgin Group?
Virgin Group Limited is a multinational venture founded by Sir Richard Branson and Nik Powell in 1970, with its headquarters in London, England. The current chairman and CEO of the Virgin Group are Peter Norris and Josh Bayliss, respectively. Virgin Group is a parent to many sub-ventures such as:
- Virgin Active
- Virgin Books
- Virgin Care
- Virgin Holidays
- Virgin Hotels
- Virgin Galactic
- Virgin Hyperloop
- Virgin Megastores
- Virgin Mobile
- Virgin Money
- Virgin Oceanic
- Virgin Radio
- Virgin Orbit
- Virgin Voyage
- Virgin Airlines
among many others that have not been mentioned above. The name Virgin Airlines gave away its parent organization, and now you know this too.
Shares of Virgin Group in the Virgin Airlines
Virgin Airlines is controlled by Virgin Atlantic Limited. Virgin Atlantic Limited is owned by Virgin Group and Delta Air Lines. The shares of Virgin Group in Virgin Atlantic Limited is 51 percent, and that of Delta Air Lines is 49 percent.
The aircrafts
Virgin Atlantic or Virgin Airlines uses Airbus and Boeing wide-body aircraft. The company uses a mix of different types of aircraft, such as Airbus A330-200, Airbus A330-300, Airbus A340-600, Airbus A350-1000, Boeing 747-400, Boeing 787-9. These aircraft make Virgin Airline’s Fleet one of the youngest. However, in May 2020, it was announced that the company would be retiring the Boeing 747-400s.
Where does Virgin Airlines operate?
Virgin Airlines operates from its main base in Heathrow and secondary base in Manchester to destinations in Asia, Middle East, the Caribbean, Africa, and North America. The airlines also operate seasonal flights from Glasgow, Belfast, and Edinburgh.
Types of cabins in Virgin Airlines aircrafts
The aircrafts owned by Virgin Airlines or Virgin Atlantic consist of three cabins: Economy class, Premium or Premium Economy class, and Upper or Business class.
Terminated services
In recent times Virgin Airlines has terminated its flights to Australia and Canada. The London-Sydney service came to an end, the reason behind this was stated to be ‘increasing cost and weakening Australian dollar’
Who owns Virgin Airlines?
After reading this much you must have got the idea that Virgin Airlines or Virgin Atlantic is owned by the Virgin Group. But who owns Virgin Group? It is none other than billionaire Sir Richard Branson who owns the Virgin Group, this means he also owns Virgin Airlines. Sir Richard Branson is also the founder of Virgin Airlines. The present CEO and chairman of the airlines are Shai Weiss and Peter Norris, respectively.
Effect of the pandemic on the business
Since the beginning of the pandemic in 2020, Virgin Airlines has halved its workforce. In May 2020, it was announced that the airlines will terminate more than 3000 staff in the United Kingdom. Later, in September 2020, around 1150 more jobs were cut off.
In May 2020, it was announced, that Virgin Airlines was to end operations at the Gatwick Airport. In August 2020, Virgin Airlines also filed for bankruptcy protection.
Conclusion
This is the basic information you need to know about Virgin Airlines, Virgin Group, and Sir Richard Branson. The services offered by the airlines are worth praising, the prices are affordable, and you will get used to their hospitality once your board the flight.
