Staff at Virgin Atlantic are to be given a two-week bonus to celebrate the airline’s 25th anniversary, Sir Richard Branson has announced.
The 8,500 employees are also to get two free tickets to fly anywhere on the airline’s network as a ‘birthday bonus’ for loyal service after quarter of a century.
But as well as rewarding staff, the move is being seen as another dig by Sir Richard at arch rival British Airways, whose chief executive Willie Walsh is asking his 40,000 employees to work for nothing for up to four weeks to boost the airline’s ‘fight for survival’.
Source: MailOnline
By: kevinwm - 25th June 2009 at 16:41
Indeed, but you have to hand it to SRB for working publicity.
Compare what SRB and WW have been saying publicly in the last couple of weeks, then compare the difference in public (rather than those with an aviation interest) perception of where VS and BA are financially at the moment.
1L.
This really intreast me , Talking to crew and hearing comments on my last flight from Seattle , would lead me to think that WW is over stateing the gloom and Doom and with SRB talking Up his own , it makes me think that he is still in seriouse trouble .
Im seeing something Im not sure what it is , but I think that there is going to be something big soon and BA will be at the centre of it and guess who is going to be the loser , and I dont think its WW
By: rdc1000 - 25th June 2009 at 14:35
Dont belive everything that you read , The inside grapevine say other wise , about 4 months ago a certain airline was on very thin ice , then announced a profit
Well, if you are to believe 49% shareholder Singapore Airliens, they contest how much/if any profit was made. Because VS is not a publicly listed company, they do not have to undertake their accounts to international accounting standards, and according to SIA, if this was done the result woudl eb very different. See below…
Virgin shareholder SIA views full-year performance differently
David Kaminski-Morrow, London (26May09, 22:12 GMT, 260 words)Virgin Atlantic Airways’ disclosure today of an increased pre-tax profit appears at odds with the financial performance of the company as seen by investor Singapore Airlines, which owns 49% of the UK long-haul carrier.
While Virgin declared that it doubled its pre-tax figure to more than £68 million ($108 million) in the year to February 2009, Singapore Airlines points out that Virgin does not apply international financial reporting standards (IFRS) but instead still prepares its accounts under UK generally accepted accounting principles (GAAP).
Singapore Airlines, in its own recently-released full-year figures, stated that its associated companies lost S$106 million ($73 million) in the fourth quarter to March 2009.
“That’s largely coming out of our investment in Virgin Atlantic,” said Singapore Airlines senior vice-president for finance Chan Hon Chew.
Chan added that, as a private company, Virgin Atlantic was able to prepare its finances under GAAP, while listed European Union companies must use IFRS.
Singapore Airlines chief Chew Choon Seng pointed out that Virgin Atlantic contributed S$400,000 ($276,000) over the two halves of the year because it was responsible for a “big part” of the first-half share of profits from associates.
Virgin’s statement on its financial performance today does not indicate the accounting standard used.
But the airline says it generated the pre-tax profit of £68.4 million, up from £34.8 million in the previous year, despite the volatile price of fuel.
Virgin Atlantic has not disclosed a figure for retained profit for the year in its statement. For the previous financial year it posted a retained profit of nearly £48 million.
Source: Air Transport Intelligence news
By: OneLeft - 25th June 2009 at 12:59
You might be on to something.
Indeed, but you have to hand it to SRB for working publicity.
Compare what SRB and WW have been saying publicly in the last couple of weeks, then compare the difference in public (rather than those with an aviation interest) perception of where VS and BA are financially at the moment.
1L.
By: Bmused55 - 25th June 2009 at 12:37
You might be on to something.
By: kevinwm - 25th June 2009 at 10:38
Dont belive everything that you read , The inside grapevine say other wise , about 4 months ago a certain airline was on very thin ice , then announced a profit
I wonder were all the money came from ? Asia by chance and those A330 that he has ordered
I might be wrong but didnt a Asian company not long ago drop a order for the A330,s
By: Hand87_5 - 25th June 2009 at 08:36
Maybe BA’s lousy executives should contact Sir RB for a management class……they need it :dev2:
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June 25, 2009 at 4:03 am