Virgin Atlantic Financial Facts
Virgin Atlantic turned over circa £2.7 billion last year FACT
Their "Marketing Costs" were circa £570 million FACT
You do the maths, why spend so much on marketing ! The marketing budget includes the licence to use the "Virgin Brand"
Any profits are taken 'Offshore" and redistributed to shareholders, VA would never ever seemingly make a profit, it gave them the narrative to tell the staff about how hard it was and how they couldn't afford pay rises etc. How can a company 30 years old only make a profit once or twice in that long period? They carried the bare minimum in cash as the rest was siphoned off to launch rockets and ships. The only time VA made a significant profit was the year SA bought its 49% (total madness to buy 49% of anything) SRB is a gambler always was and always will be, he has suffered a traumatic period in the casino and will be asked to leave shortly his cash has run out. His whole world will fall like a house of cards, he burns through cash quicker than my wife and now his business style of living on the edge and constantly spending is coming to haunt him.
My guess is he may borrow from a rich friend in the sand but how much will it take to survive? No one knows, this one can't be predicted. Virgin Atlantic is no more but will return in phoenix form back as Virgin Holidays and its LHR slots are still valuable. No government loan as they have no security, they have leased off everything and spent their assets, O'Leary Walsh would sue and win against the government and they know it.
Virgin is a dead duck right now. FACT