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Stock impact report

Richard Branson’s Virgin Atlantic is done with Hong Kong [Fortune]

American Airlines Group, Inc. (AAL) 
Last american airlines group, inc. earnings: 4/30 07:30 am Check Earnings Report
Company Research Source: Fortune
Virgin Atlantic Airways Ltd. is pulling out of Hong Kong for good, canceling flights and closing its offices in the Asian financial hub, ending a 30-year history in the city. The UK airline said in a statement Wednesday that several factors contributed to its decision, including, on the basis of Russian airspace remaining closed, that Heathrow-Hong Kong-Heathrow flight times would be at least one hour longer, and that in 2019, Virgin Australia ended Hong Kong-Melbourne and Hong Kong-Sydney services, reducing the number of connecting customers to and from Australia. Virgin Atlantic hasn’t operated any passenger flights to Hong Kong since December, after the city banned all flights from the UK during the depths of Covid. However the carrier is the first major airline to actually pull out since American Airlines Group Inc. quit the hub late last year. Around 46 Virgin Atlantic jobs will be impacted, consisting of a mix of office staff and cabin crew. “We’re very sorry for the disappo Show less Read more
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