Five years on from Willie Walsh’s “knee in the groin” wager with Sir Richard Branson that Virgin Atlantic would disappear, the airline is still flying high. Chief executive Craig Kreeger lifts the lid on why its new tie-up with Air France-KLM is the next logical step amid fierce competition on transatlantic routes.
Delta, Air France-KLM and Virgin Atlantic are to form a combined global joint venture as part of a shake-up of the industry that also allows China Eastern to bolster its presence in the China-Europe market.
CEO Jean-Marc Janaillac has launched an initiative to tackle the airline's issues head-on, mainly cutting costs and growing long-haul operations. Air France-KLM returned to net profit for the first time in six financial years last year, turning a net loss of €225 million in 2014 to a positive net result of €118 million.
