Virgin Atlantic and Airbus to Sign a Deal Worth 4.3 billon

Virgin Atlantic Airways is poised to announce a deal with Airbus Group for 12 A350-1000 jets. The list price of this deal will be approximately $4.3 billion and through this deal Virgin hopes to strengthen its wide-body leisure fleet. Virgin will probably purchase nine of the twin-engine planes directly from Airbus while leasing three from leasing firms, whatever the case the U.K. based airline has its sights set on having more fuel efficient jets such as the Airbus A350 or the Boeing 777 replace the four engine Boeing 747s jumbos that currently form the core of its long-haul leisure fleet.

2014 saw Virgin Atlantic return to profitability after previous less than successful business endeavors. The airline’s comeback was bolstered by a partnership with Delta Airlines and its increase in profitability has been made possible by changes to its transportation routes with Virgin refocusing its transportation routes on trans-Atlantic routes. According to Erik Varwijk, Virgin Atlantic’s Executive Vice President, the airline is hoping to have new jets by late 2018 or early 2019 a couple of years after Airbus plans on beginning deliveries for its A350-1000 model meaning that the A350-1000 model may be the aircraft chosen by Virgin. Boeing’s 777x model doesn’t come out till 2020 but that doesn’t disqualify the US based Airline Manufacturer and Virgin may still look at picking up some of Boeing’s current 777 jets. Throughout the years Virgin has been working on trimming cost by eliminating four-engine planes such as the Airbus A340-300 and the A340-600. Plans are also in the works to eliminate Boeing 747s.

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