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A Virgin Australia 777-300 rests at LAX before its next flight. As part of its restructuring, the airline is retiring its 777 fleet and halting long-haul routes.(Photo: AirlineGeeks | William Derrickson)

Virgin Australia Reveals Major Restructuring Plan for the Future

On Wednesday Virgin Australia announced its restructuring plan after filing for voluntary administration in April, the airline revealed in a press release. The carrier is resetting itself to meet the drop in demand both in Australia and around the world. Through its review, the airline has anchored its recovery plan around six key points: overhauling the cost-based and simplifying operations; focusing on customer value; harnessing culture; investing in new digital and data technologies; building a strong balance sheet and focusing…

Virgin Atlantic Declares Bankruptcy as Part of Restructuring

Virgin Atlantic filed for Chapter 15 bankruptcy in New York on Tuesday, becoming the latest airline — and the second from Virgin Group — to file for bankruptcy protection, Business Insider reports. Virgin Australia filed for voluntary administration in April. Virgin Atlantic originally suspended passenger operations in April. It flies…

Richard Branson Offers Private Island to Secure Rescue Money for…

Virgin Atlantic founder Sir Richard Branson has stated in a public letter that he is willing to offer his private island as security against any deal from the U.K. government. Although the tycoon has committed $250 million of his own money, Virgin Atlantic says it requires around an extra $615…