Virgin Atlantic set for big loss

Virgin Atlantic set for big loss
By admin


Virgin Atlantic is set to report an annual loss of GBP135 million (A$197m) as its new chief executive initiated a round of cost cutting.

According to The Sunday Times in the UK, Craig Kreeger said in an internal memo that the financial performance is "well behind where we anticipated".

Job losses are feared.

The newspaper said Kreeger, who took over from Steve Ridgway at the beginning of the year, has imposed a pay freeze across the airline and begun a program of cost cutting.

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