RB's spin is really starting to bite him on the backside....
From Gerson Lehrman Group Website Financial Comment :
''So what’s gone wrong in just a few weeks after so brazenly boasting how efficient it was in contrast to rival British Airways?
The simple answer is that Virgin is waking up to the realities of the marketplace and without any major airline alliance that wants this subsidised carrier amongst their ranks, the battle which Branson’s baby faces is more than just an uphill one.”
“Throw in the worse-than-expected forward bookings at Virgin (down 30% on last year compared to BA 17% apparently) and quickly you see that its reliance on premium customers is far greater than that of British Airways, particularly with its smaller network that has less room to offset big declines in demand for that class of travel.''
''Little wonder then that BMI and Lufthansa are equally keeping themselves at arms length from Virgins ailing overtures. While all of this goes on, the Virgin PR machine will do little to console the staff it has to cull for its mismanaged operations.''
Unhappy times and very fair comments Bart - Good Luck to all.