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Share Price Information for International Airlines (IAG)

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Share Price: 172.75
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Virgin Atlantic eyes over 80 new routes at expanded Heathrow

Wed, 18th Sep 2019 00:01

LONDON, Sept 18 (Reuters) - Virgin Atlantic is
hoping to add over 80 new routes to its network after a third
runway is built at London's Heathrow Airport including
short-haul and domestic flights, the British airline said on
Wednesday.

Heathrow's expansion is due for completion in 2026 after
lawmakers voted strongly in favour of the third runway in June
2018, although environmentalists and local groups are
challenging the plans in court.

Virgin Atlantic said it could serve up to 84 new locations
from the expanded airport compared to its current 19.

The plans would depend on Britain changing how it allocates
slots to airlines. Currently Heathrow is dominated by British
Airways owner IAG but rules governing the allocation of
slots are under review by the government.

"Heathrow has been dominated by one airline group for far
too long," said Shai Weiss, chief executive at Virgin Atlantic.

"The third runway is a once in a lifetime opportunity to
change the status quo and create a second flag-carrier," he
added in a statement. "This would lower fares and give real
choice to passengers."

IAG holds more than 55% of take-off and landing slots at
Heathrow, with no other airline holding more than 5% of the
remainder, Virgin Atlantic said.

The airline, part of Richard Branson's Virgin Group,
currently operates long-haul routes to destinations such as New
York, San Francisco, Johannesburg and Hong Kong.

But under the plans, it would add domestic routes such as
Liverpool and Edinburgh, short-haul flights to Germany, Spain
and France as well as long-haul flights to cities such as
Jakarta and Panama City.
(Reporting by Alistair Smout; editing by Stephen Addison)

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