Virgin Atlantic Names New CEO

by Christopher Freeburn | January 8, 2013 10:50 am

Virgin Atlantic Names New CEO

1 virgin 300x198 Virgin Atlantic Names New CEO[1]Virgin Airlines will get a new chief executive next month[2].

The British carrier, founded by billionaire Richard Branson, announced that Craig Kreeger would replace outgoing CEO Steve Ridgway on February 1.  Kreeger formerly headed American Airlines’ (PINK:AAMRQ) international operations for six years while based in London, CNN noted.

While at American, Kreeger managed a critical partnership with British Airways, which shared transatlantic flights between the two airlines.

Last month, Delta (NYSE:DAL[3]) paid $360 million to acquire a 49% stake in Virgin from Singapore Airlines (PINK:SINGF[4]). The partnership between Virgin and Delta is expected to increase transatlantic traffic for both airlines[5], and give Delta greater access to Heathrow Airport in London.

Ridgway had announced his intention to step down this year[6] back in September. Branson retains the remaining 51% stake in Virgin Airlines.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/08/1_virgin.jpg
  2. will get a new chief executive next month: http://money.cnn.com/2013/01/08/news/companies/virgin-ceo/index.html
  3. DAL: http://studio-5.financialcontent.com/investplace/quote?Symbol=DAL
  4. SINGF: http://studio-5.financialcontent.com/investplace/quote?Symbol=SINGF
  5. increase transatlantic traffic for both airlines: http://investorplace.com/2012/12/delta-buys-big-stake-in-virgin-atlantic/
  6. his intention to step down this year: http://investorplace.com/2012/09/virgin-atlantic-ceo-to-step-down/

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