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Virgin Atlantic is to cut 1,150 more jobs after finishing a £1.2bn rescue plan that can safe its future for at the least 18 months.
The airline had already cut more than 3,500 jobs out of the 10,000 staff it had at the start of the yr.
The airline mentioned it had to cut prices so as to survive.
“Till journey returns in higher numbers, survival relies on decreasing prices additional and persevering with to protect money,” it mentioned.
“The outlook for transatlantic flying, which is core to Virgin Atlantic’s enterprise, stays unsure with US-UK journey curtailed,” the airline mentioned.
It mentioned the previous six months had been “probably the most difficult in Virgin Atlantic’s historical past”, and that “regrettably the airline should go additional one final time with adjustments at scale, to guarantee it emerges from this disaster”.
The service added {that a} 45-day session interval would start on Friday with unions.
‘A tragedy’
Pilots union Balpa mentioned that it hoped to keep away from pilot redundancies.
“Each single job misplaced to this disaster is a tragedy and we’re doing all the pieces we are able to to mitigate job losses throughout the board,” mentioned Balpa normal secretary Brian Strutton.
“Regardless of no assist from authorities, their financing is now safe,” he added.
US service Delta Air Strains, which owns 49% of Virgin Atlantic, mentioned the rescue plan was “an essential a part of defending Delta’s place within the UK, notably within the crucial London Heathrow market,” because it vies in opposition to American Airways and British Airways.
The pandemic has had a extreme impression on the aviation trade as lockdowns and quarantines hit air journey. Airways, airports and tour companies have collectively shed 1000’s of jobs.
Virgin gained approval for its rescue plan from UK and US courts this week.
The £1.2bn deal entails £400m in new money, half of which can come from its fundamental shareholder, Sir Richard Branson’s Virgin Group.
