Shanice Branch-Gilkes
Virgin is a leading international investment group. Over the years it has evolved into one of the world's most recognised and respected brands internationally. Beginning in 1970 by The Virgin group began in 1970 by Sir Richard
Branson, the Virgin Group has become one of the most successful businesses in sectors ranging from mobile telephony, travel, financial services, leisure, music and holidays; this is where Virgin Atlantic began. Virgin employs approximately 50,000 people, in 34 countries and global branded revenues in 2011 were around 13 billion.
About Virgin Atlantic Virgin Atlantic is a British airline which was founded
in 1984,by the owner Richard Branson. Richard Branson owns 51% stake of the airline selling the other 49% To Singapore airlines. Virgin operates between the United Kingdom and North America, the Caribbean, Africa, the Middle East, Asia, and Australia from its bases at Gatwick and Heathrow airports. Virgin Atlantic has become one of the most recognized airlines in British history. In 2011 Virgin carried over 5.3 million passengers making them the eighth largest airline in the UK.
During 2009 Virgin Atlantic experienced a difficult year due to the economic environment and difficulty involving trading conditions. During this year Virgin Atlantic experienced; •
Revenues decreased by 8.6% to £2,356.6m
•
Group pre-tax operating loss of £132m
•
Airline operating costs reduced by 8%
In an operation to avoid being a target of the rescission, Virgin decided to begin some new methods to protect their business they did this by adding new route destinations, which meant they needed more staff so they recruited up to 300 members of staff 150 of them being cabin crew for the new route destinations and they also added new aircrafts and inflight entertainment systems.
Over the last year profits at Virgin Atlantic have dramatically increased to ÂŁ68.4million, this is an overall increase of ÂŁ44 million from the previous year. During the last year at Virgin Atlantic an increase on the amount of premium travellers increased; this lead to a higher profit margin.
Another factor which had a significant effect on the profit increase was the trading conditions, rising oil prices were
at $147 per barrel, and they then decreased to the price of $38 per barrel. saved Virgin Atlantic a sufficient amount of $109 adding to the amount of profit the company made that year.
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