Virgin Atlantic Boeing 747-400
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Virgin Atlantic revealed that they are going to cut at least a third of their workforce and shut down all their Gatwick operations in order to reduce costs during the Coronavirus crisis. After hearing reports from the Financial Times, the airline held a briefing, where trade unions and staff were advised of up to 3,150 jobs should be cut. They will also be pulling out of their base of 35 years in Gatwick and moving to Heathrow. It is currently unknown if the airline will ever return to the airport in the future. However, Manchester still remains as their second hub.
What has happened
Virgin Atlantic's CEO, Shai Weiss sent an internal memo to their staff stating about these job reductions. He said that the current support measures and their cost cutting efforts were simply 'not enough' to allow a success future for the airline. They stated in a note to the Financial Times that: “If we are to safeguard our future and emerge from this crisis a sustainably profitable business, now is the time for further decisive action to reduce our costs and preserve cash.”
The airline is currently waiting on approval of a £500 million loan from the government. They have furloughed many staff members by relying on the British Government's wage top-up scheme to help pay for some of these worker's salaries. The airline are looking at other available options to try get extra funding from other stakeholders.
Hopeful thinking
Virgin Atlantic are staying hopeful during this difficult time. They believe that this cost-cutting measure fixed around their current demand will allow the airline to emerge better and stronger and aim for profitability in 2021. They hope to protect as many jobs and possible and remain positive with getting many lost jobs back to the airline over the upcoming years. When the horrific incident of 9/11 occurred and the Global Financial Crisis, the airline took similar measures and many members who lost their jobs got them back after a couple of years. Therefore, there mightn't be an end to a third of their workforce in the long run. For now, they want to 'reduce costs, preserve cash and protect as many jobs as possible.'
Retirement of their Boeing 747 fleet and its history
They have also announced today that they will be retiring their last 7 Boeing 747 aircraft immediately. This retirement process has been sped up from 2021 to try reduce cost during these unprecedented times. They have decided to stick to their plan with retiring their Airbus A330-200 aircraft in 2022. However, in March, we saw them say goodbye to their beautiful Airbus A340s. These heavy costing fuel eaters will help the airline come out the other side of this crisis.
The Boeing 747 is an aircraft that will be a rare sight after this pandemic. With KLM and British Airways retiring their last of the Boeing 747s, it seems like the iconic aircraft won't be a familiar sight no longer. For Virgin Atlantic it will end a wonderful era dating back to 1984. Their first ever flight with a Boeing 747 was on the 22nd of June 1984 using a -200 series registered G-VIRG. It was apart of the fleet until 2001. They have also operated 1 Boeing 747-100, fifteen other Boeing 747-200s and thirteen Boeing 747-400s over the years.
The last flight of their Boeing 747 aircraft was on the 24th of March while flying from Montego Bay to Gatwick. This aircraft was registered G-VAST. Their 747 fleet had an average age of 20 years. Their youngest aircraft registered G-VROY was only 18 years old as their oldest was 22 years old registered G-VAST.
What will happen with their aircraft now?
They currently have four Airbus A350-1000 aircraft delivered who have been operating some of their remaining scheduled routes. They ordered many new Airbus A330neo aircraft to replace their older versions of their A330s at last years Paris Air Show. These aircraft are a much more fuel efficient and will help the airline in the long run.
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