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Virgin Atlantic will cut 1,150 more jobs after completing a £ 1.2 billion rescue plan that will secure its future for at least 18 months.
The airline had already cut more than 3,500 jobs out of 10,000 employees it had at the beginning of the year.
The airline said it had to cut costs to survive.
“Until the trips come back in greater numbers, survival is based on further reducing costs and continuing to conserve cash,” he said.
The pandemic has had a severe impact on the aviation industry as closures and quarantines affect air travel.
The company obtained approval for the rescue plan from the UK and US courts this week.
The £ 1.2 billion deal involves £ 400 million in new cash, half of which will come from its main shareholder, Sir Richard Branson’s Virgin Group.
“The outlook for transatlantic flights, which is critical to Virgin Atlantic’s business, remains uncertain with the reduction of travel between the United States and the United Kingdom,” the airline said.
He said the last six months had been “the most challenging in Virgin Atlantic history,” and that “unfortunately the airline must go further one last time with changes to scale, to make sure it comes out of this crisis.”
The airline added that a 45-day consultation period with the unions would begin on Friday.
