Branson outlines Virgin revenue plans
Virgin Group chairman Sir Richard Branson stated that if Virgin Australia can get 10% more of Qantas' business market this would add AUD150 million in revenue for the airline (Herald Sun, 09-May-2011). The chairman stated that if Virgin Australia is successful in gaining as much of the corporate travel market as it has in the leisure market (30% market share), Virgin Australia will be looking at generating AUD450 million p/a from the business traveller. "That will help us subsidise lower fares in economy and help us invest in even better products,” Sir Richard said. He also added the airline will be more competitive than its rival with regards to fuel. "We have a clean fuel called isobutenol, which is in the development stage, which we can produce cheaper than jet fuel,” he said. "It's 100 per cent clean, and we're hoping to roll it out to all our airlines within about three years."