Virgin Atlantic in major cutback

VIRGIN ATLANTIC (VS) is to cancel its daily Chicago flights for this winter and cut back Hong Kong to daily.  This is the second attempt for VS to make Chicago work but it is the hub for United, who have three services a day, and it also competes with American, on four and BA also with three.  The second Hong Kong was introduced to back-up through services to Australia, which will now be restricted in capacity.  Nearly 8% staff, around 600 jobs, will be lost.  Very much earlier than usual Virgin Atlantic announced its financial performance for the previous 12 months noting a sharp deterioration in profitability. www.virginatlantic.com

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