Virgin Atlantic's new boss Craig Kreeger says he has ordered a total review of the company and aims to turn the latest £93 million loss into a profit in the next two years.
ITV News Meridian spoke exclusively to Mr Kreeger about how he is looking to turn the company's losses around.
The new Chief Executive of Virgin Atlantic from Kent says he has made 'difficult decisions' as he tries to turn around the company's losses.
The new boss says the Government must act to reduce air tax and he backs a new runway at Heathrow over a new hub in the Thames Estuary.
A full review of the company is underway and action has been taken to reduce fuel costs and take a fresh look at all contracts.
The new Chief Executive of Virgin Atlantic, who lives near Ashford, Kent, has said he will have to freeze staff pay in order to control losses.
Craig Kreeger has previously spent 27 years with rival American Airlines and will replace Steve Ridgway who retired earlier this year.
The 9,000 staff at Virgin are mostly based at Heathrow and Gatwick will face a pay freeze because of rising fuel costs.
Mr Kreeger has praised worker for their dedication to the company at a difficult time and says high quality services is still a top priority.