The Brand I admire most is Virgin Atlantic. This Airline owes its origins to the brilliant idea of Richard Branson, Alan Hellary and Randolph Fields. The latter duo founded British Atlantic Airways in 1982. After takeover by Richard Branson, the Airline was renamed to Virgin Atlantic (Virgin Atlantic 5). The company has grown over the years in capacity and brand image. The company has faced competition from rivals, mainly from British Airways. In order to gain competitive advantage and survive in the aviation industry, Virgin Atlantic has sought strategic partnerships with Delta Airways. The mission and vision of the company is to:
Embrace the human spirit and letting it to fly.
Be the most loved airline by customers.
They aim to achieve the above objectives through product differentiation and uniqueness (Virgin Atlantic 2).
Picture of Virgin Atlantic plane on air
The Financial Reports from Virgin Atlantic
The company had a growth in both asset base and profit for the financial year 2013/2014. The table below shows the values of fixed assets and gross profit attained in the financial year 2013/2014.
The above data is illustrated in the graph below.
Fleet Size
In order to compete effectively, they need to have adequate fleet in when it comes to capacity and well maintained aircrafts as pertains comfort. Based on these considerations, the airline has continued to acquire newer and better aircrafts. With proper strategies in place, the company can be projected to perform even better in 2016.
Reference
Virgin Atlantic, Virgin Atlantic Annual Report 2014. 2015. Web. 18 Mar. 2016. March 2015.
