CRAWLEY - Virgin Atlantic Airways Ltd, owned by its British billionaire founder Richard Branson, is cutting about 500 jobs as it seeks to reduce costs and improve its financial resilience, the Wall Street Journal reported.
The cuts will be done through layoffs, moving staff, or not filling vacancies and will be implemented by the end of the year, the newspaper reporter.
The 30-year-old airline is looking to boost earnings after it reported a 14.4 million pounds (US$22.62 million) profit for 2014, its first in four years.
Virgin is in the throes of a two-year turnaround plan that includes shutting its Little Red domestic airline to concentrate on long-haul flights.
The airline is increasing its transatlantic flights while cutting back on some routes elsewhere. It is also contemplating how to replace seven Boeing 747s it flies from London's Gatwick Airport, and could expand its overall fleet in the process.
Virgin Atlantic was not immediately available to comment on the report. - REUTERS
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔