Virgin Atlantic announced on Friday that it will cut 1,150 jobs due to the crisis caused by the coronavirus pandemic, a decision that comes one day after obtaining final legal approval of a rescue package of 1.2 billion pounds (1.35 billion euros).
“Unfortunately, despite the actions already taken to remodel and resize the business, the airline must go one last time with changes to scale, to ensure that it comes out of this crisis,” the company explained in a statement.
The move was announced less than 24 hours after Virgin Atlantic obtained final legal approval of a £1.2 billion ($1.35 billion) rescue package that the Crawley, England-based airline admitted was “vital” to surviving the pandemic.
Based on the current outlook, the airline is planning a scenario in which transatlantic flights from the UK do not extend beyond current operations until early 2021.
In this scenario, the capacity operated across its network in the fourth quarter of 2020 would be only one-quarter that of 2019, while revenue in 2021 could be reduced by half compared to 2019 levels.
By EuropaPress
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