Virgin Atlantic

About Virgin Atlantic

The story of Virgin Atlantic begins not in a boardroom, but with a cancelled flight. In 1984, entrepreneur Richard Branson found himself, along with other passengers, stranded when their flight was cancelled. In a move that would define the airline's ethos, he chartered a plane, jokingly advertised 'Virgin Airways' for a small fee, and got everyone to their destination. This experience highlighted a gap in the market for an airline focused on customer experience. The airline was originally founded as British Atlantic Airways by Randolph Fields and Alan Hellary, a former chief pilot for Laker Airways. Branson, initially approached for investment, acquired Fields' shares and rebranded the company. The airline's maiden flight took place on June 22, 1984, from London Gatwick to Newark. From the start, Virgin Atlantic aimed to be different, injecting fun and superior service into what was often a mundane travel experience. This challenger mentality was part of its DNA, directly competing with established giants like British Airways. A key moment in its journey was the strategic partnership with Delta Air Lines, which acquired a 49% stake in 2012 for £224 million. This created a formidable transatlantic joint venture. Virgin Group retains a 51% majority share. The airline has navigated significant financial turbulence, notably during the COVID-19 pandemic. In 2020, it underwent a £1.2 billion private-only solvent recapitalization to ensure its survival, a move that included support from shareholders and new private investors. This restructuring was pivotal, allowing the airline to weather the crisis and rebuild its balance sheet.