Cian McCarthy 13143387

Alex Yourell 13151797

Evan Quinlan 12155837

Performance of Virgin Atlantic in 2014

Introduction

Founded 31 years ago in 1984.

1 million passengers in first decade.

TV’s for first and business class

30 long haul flights

Carried over 58 million passengers

Employs over 9000 people

Performance of Virgin Atlantic 2014

Business ModelA business model merrily describes the way in which a company plans on making money.

Long Haul service Domestic services

South Africa Mexico United States

Aberdeen Manchester London

The people who make up Virgin Atlantic make Virgin Atlantic

Financial Performance

2012 Two Year Recovery Plan

The following are Virgin Atlantic’s financial results for 2014: Improved airline load factor to 81.6%

Airline unit revenue (revenue per available seat kilometre) increased by 7.7%

6,197,888 total passengers flown by the airline

Another record year for on time performance, beating targets on all measures, with overall on time performance of 87% (up 6% points)

Continued strong cash position with a year-end balance of £320m

Employment of staff

Virgin Atlantic is an airline company that ensures its staff members have fun, work hard and enjoy life.

Flight attendant jobseeker’s are advised to have skills including: Customer service skills Organisation skills Flexible & adaptable skills People skills

Industrial Relations ‘Loyal employees in any company create loyal customers, who

in turn create happy shareholders’ – Richard Branson

June 2008 pilots threatened industrial action unless demands met

2014 no reports of similar tension

June 2014 closure of ‘Little Red’ – 100 cabin crew

31 years without any industrial action

Route development & closure

Route Development Many new & proposed routes

Additional daily & summer seasonal daily on pre-existing routes

London Heathrow to Detroit

New connections across north and central USA – Delta.

Route Closure After 18 months closure of Little

Red domestic flights

Began march 2013 – load factor only 42%

Sydney – Hong Kong route

Closure due to “increasing costs and a weakening Australian dollar” – Craig Kreeger

Conclusion

2014 good year

Increased Turnover

No major hiccups or issues across the board

QUESTIONS?