Virgin Atlantic Cuts Winter Flights Amid Rising Fuel Costs

Virgin Atlantic Airways is reducing its winter flight schedule by approximately 8% as rising fuel costs and weaker demand pressure the carrier. CEO Corneel Koster stated that the airline expects its jet fuel bill to increase by several hundred million pounds next year.

To mitigate these expenses, the airline has implemented back-office efficiencies using artificial intelligence. Koster noted that while corporate and transatlantic travel remain strong, overall demand is being impacted by economic conditions and the rising cost of living.

The airline is also facing operational delays from Airbus SE, which pushed back deliveries of A330 aircraft by more than three months after an errant tool was discovered inside one of the planes. Other major carriers, including IAG, Ryanair Holdings, American Airlines Group, and United Airlines Holdings, have similarly adjusted their growth ambitions or forecasts in response to higher oil prices.