Hurricane Maria adversely impacts performance of Virgin Atlantic

Published on : Friday, October 13, 2017

Virgin planeLast month’s hurricanes have checked the recovery process of the airline Virgin Atlantic, as specified by Craig Kreeger who is the chief executive. He disclosed this fact yesterday.


The airline warned in March that it expected to decline into a loss this year following three years of profits.


But then last month Kreeger said that the demand for summer time travel had indicated a better scenario that was expected, in the face of a weaker pound. But then some of this improvement has been eroded since Hurricane Irma hit the resorts in the Caribbean and hit the eastern coast of the US with other storms including Hurricane Maria triggering further disruption.


Kreeger told a leading news media agency that the end of the year appears that it would be way better that they had anticipated at the beginning of the year.


But then, it might not be quite strong as they were on the trajectory to strike prior to the hurricanes. Kreeger mentioned that the hurricanes had impacted the cost of jet fuel production and also cause the cancellation of flights. He feels that the pricing outlook for the airline for the upcoming winter is just about normal.


Virgin Atlantic was earlier cautioned in 2017 partly due to some concerns over a drop in the pound after the Brexit vote and also increased competition in this sector.


In July Delta Air Lines, Virgin Atlantic and Air France-KLM had unveiled fresh plans to fuse two overlapping transatlantic joint ventures that was supported by equity deals worth $1 billion.


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