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Virgin Airlines announces more job cuts after securing a $1.6 billion rescue deal

September 4, 2020


U.K.-based Virgin Airlines on Friday announced it will let another 1,150 jobs go, after completing a £1.2 billion pound ($1.58 billion) rescue deal to help keep it afloat during the pandemic that has devastated the industry.

Those job cuts will add to the 3,550 employees that have already been let go. Its rescue deal was approved by courts in the U.K. and the U.S. this week. The restructuring plan is based on a five-year business plan and hopes to return to profitability by 2022.

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