International Airlines Group (IAG) CEO Willie Walsh stated the company is "not bothered" about a competitor acquiring a stake in Virgin Atlantic Airways (Bloomberg, 22/23-Feb-2011). Air France-KLM and Delta Air Lines have reportedly hired Goldman Sachs Group Inc to assist them in a possible joint bid (Sunday Times, 20-Feb-2011). “They’re competitors already. It’s not as if there’s someone new. It should be interesting to watch", Mr Walsh stated. He also stated that Virgin Atlantic has little value to other airline groups beyond its slots portfolio at London Heathrow Airport (Bloomberg, 23-Feb-2011). Mr Walsh stated the carrier is not interested in acquiring and fixing "broken airlines", adding the group wants to build a portfolio of strong companies.
IAG 'not bothered' by who acquires Virgin Atlantic; value lies in Heathrow slots
You may also be interested in the following articles...
Virgin Atlantic: much has changed under CEO Kreeger, but it remains an enigma
A little more than four years since CEO Craig Kreeger took the helm at Virgin Atlantic: it has refocused its network even more strongly on routes across the Atlantic, replaced around one third of its fleet with new and more efficient aircraft, successfully developed a joint venture on UK-US routes with its 49% shareholder Delta Air Lines, and improved its focus on financial performance. It has also launched and then closed its UK domestic operation, Little Red.
The publication of Virgin Atlantic's 2016 annual report in late Mar-2017 demonstrated that its profitability is improving, but remains very slim in margin terms.
This report takes the opportunity to assess Virgin Atlantic's progress since CAPA published a report analysing its business in Mar-2013, shortly after Mr Kreeger's arrival. Much has been achieved since then, but genuinely sustainable profitability remains to be achieved.
European airline seat capacity growth accelerates - perhaps too quickly: Outlook for winter 2016/17
The summer 2016 season came to an end on 29-Oct-2016. Adjusting for an extra week relative to the previous summer, it produced seat growth of 6% for capacity to/from/within Europe, matching the rate of growth in summer 2015, but higher than the 10-year average rate of 4% and higher than any other summer since 2010.
Current indications from data filed with OAG are that Europe will also experience accelerating capacity growth in the winter 2016/2017 season, which runs from 30-Oct-2016 to 25-Mar-2017. Adjusting for the season being shorter by one week relative to last winter, total seat growth in Europe is set to reach 7%, compared with 6% growth in winter 2015/2016 (and 6% growth in summer 2016). This is higher than the 10-year average rate for winter of 3% and the highest winter growth since 2007/2008.
On routes to all but one region from Europe, seat growth this winter will both be faster than last winter and higher than its 10-year average. The one exception is Europe to Middle East, the fastest-growing region, where capacity growth will remain at 10%. This report presents analysis of this winter's seat growth for Europe by region and by airline group.