Virgin can no more blame "a third party" for it's woes anymore than BP can. If you pay peanuts etc.
I do not agree ... a contract is a contract, no matter how much you screw the price down.
Just ask any
VB passenger, who has paid $5 for a ticket, if they expect a safe, efficient, on-time flight .... same thing.
I've been caught in business before ... mistakingly thinking that just because a Client screwed my price down, he would accept an inferior product ... wrong ... both ethically and legally!