EI-BUD is correct about USA consolidation and Europe has a lot further to go. Sadly, VS is a spent force and will (now) remain a niche player. The failure of Branson and Bishop to do a deal in the 1990s (whose ever fault it was, let's assume it was 50/50) was the point at which VS could have become a real player but it failed and one carrier is gone and the other a shadow.
This only serves to emphasise the importance of consolidation.
(I've never worked for VS but am a satisfied customer of many years)