The Covid Pandemic played havoc with businesses and economies around the world. Possibly the biggest impact was seen in travel and tourism. With many borders completely closed and others imposing strict travel restrictions, the worldwide tourism industry came to a screeching halt. Years later, there are countries seeing stronger travel numbers than before the pandemic. But some companies are just getting back to normal.
2024 saw Virgin Atlantic finally get back to pre-pandemic levels. For several years after restrictions were lifted, Virgin lost tens of millions of dollars annually. Business travelers and American passengers were a huge part of the jump back to profitability. What Virgin describes as "cost discipline" also played a major role, a phrase that is not ominous in the least. Having a solid year of increased revenues is only the start of the process with big plans on the way.
The company plans on making big updates to its services in 2025. Naturally, the highlights of the announcements are several major new destinations, including Toronto, Riyadh, and Cancun. Keeping the good news in mind, Virgin Atlantic continues to manage large amounts of pandemic-era related debt. This is something that many organizations, particularly those related travel and tourism, continue to deal with. Many ramifications from the lockdowns will be shaking out for years to come.
Virgin Atlantic is a British airline based out of England. Founded in 1984, it was developed by a small group of investors including Sir Richard Branson. It maintains hubs in London and Manchester with flights primarily to destinations in the US, Africa, the Caribbean, and India. The upcoming routes to Toronto and Cancun represent Virgin's return to both Canada and Mexico after a hiatus of servicing either country.