Virgin Atlantic CEO Shai Weiss Talks 40th Anniversary

I'm joined by Shy Weiss. He is the CEO of Virgin Atlantic. Virgin Atlantic this year celebrating forty years in business. Shi go to see.

Nice to be here.

So forty year is what's next?

Another forty years? First of all, so you know, it's delightful to celebrate our fortieth anniversary June twenty second, nineteen eighty four flight from Gatwick into Newark Airport. And you know, the thing that sets us apart has always been the red thread, our people, the magic that we make happen every single flight. Yeah, so we're delighted to be here.

Those Okay, we'll pick up on the profitability story. Interesting moments. So in terms of new roots, in terms of what you're doing with the airline this year, what are the plans.

Yeah, so today we're announcing actually three new partnerships. We're announcing a co chair with elaal and two of our sky Team partners, Soudia and SAS. And we're also announcing that we're turning to Aviv on September the fifth, so, you know, increasing connectivity to our partners in sky Team and providing our customers were more choice and actually people coming into London and flying beyond.

How easy was it to make the decision to return to Tel Aviv?

You know, we we were the last carry to actually fly into Tel Aviv out of the UK, So the decision was made a few months ago. I think September is the right time to do it, and it's all about the first of all demand, but of course the feeling that our people should be comfortable flying there, because our people stay overnight in Tel Aviv and we want them to be comfortable doing their jobs, and I think September is the right time for that.

This isn't based on progress of the peace deale. This is a price based on what is happening with the geopolitical story. It's just based on a demand story and the certainty that you have the your people will be saying yes.

And of course the Delta is flying this week to Tel Aviv. I think United is coming after them, So I think there is a sense that you know, the carriers are seeing that things have stabilized, and of course with Biden's announced and hopefully the parties can find a way to accept his proposal and get much needed stability in peace for everyone in the Middle East.

Interestingly that you've got almost on the same piece of paper a coach there with Sadia and a return to Israel. Yes.

And the beautiful thing about it is we've added sas so kind of our Scandinavians in the Middle to show that Virgin Plant of course does business with everyone wherever there is demand, and it's our partners. We are happy to provide it. But it's a three way announcement today. We could have done it individually. But actually all this, all these conversations started a year ago here in AATA. It's nice to see progress a year on. This's talk about politics.

British election coming out and it looks as if we're going to see a change in a change in government. What do you want to see from that next administration in ten Downing Streets. It looks like it's going to be the labor policy, That's what the polling is suggesting at the moment. What's the message, What does the aviation sector, what does Virgin Atlantic need to see from that next element?

We've been very very clear, and it's really not about who wins the elections. It's about a new sense of pride in aviation in the United Kingdom. There's some amazing companies in the United Kingdom, but I think you know, the need to tax aviation companies with very thin margins, the fact that there is a lot of policies and sustainability, and the fact that we don't recognize that as an

One of the key things that obviously you've been talking about a lots over the last few years has been what has been happening at Heathrow, British Head, which has been having the same conversation. There's a sense that maybe the customers, ie the airlines have not been getting a fair of the web in terms of the money that is having to be paid in order to make that make that that airport work. Now there's been some changes, do the changes go far enough? What do you want

Well, first of all, it's very opportune time. We have a new leadership at Heathrow, we have potentially new government coming in and potentially new ownership of Heathrow, and there is no doubt in my mind that we need to see change in heath Throw. The service is simply not good enough for the most expensive airport in the world. It's the most busiest airport in Europe, it's the fourth

It looks like what does that actually what would you like to see the model being I'd like.

To see a more efficient, a cleaner of course, but does the current so does the current ownership structure work?

Would would there be a better model? It would work?

I think if we have the opportunity to actually participate in and ownership and running of the terminal. We would be a fart. We would do a far better job.

He throw up into separate terminal.

That's one of the options are There are many options to consider, but first let's not forget he Throw is a regulated asset base, just like Thame's water. So there is a reason why they are regulated because you know, there is only one true hub in the United Kingdom. It happens to be Heathrow. When you tend to be a dominant player or a monopoly player, you tend to

You don't think the Thames water example is that actually competition doesn't work.

No, I think what I actually think is that just burdening stuff with that, not thinking about, not thinking about the consumers. That at the end of the of the game, that's where things start to fail. And I think there's different models. Of course water is not exactly airports, but the pillars are clear and the comment is fair.

Talk about you talk about Heathrow. Gatwick used to be there. We used to be there, and I hear that you'd be welcome back.

That's what I hear, and we always like to be welcome back. It's forty years for the first flight from from Gatwick and my answer is a very clear one. Never say never. You know, there is the historic home of Virgin Atlantic. There are constraints that Heathrow in terms of the ability to grow. Never say never to.

Think a Trump presidency would make a transatlantic airlines life more difficult.

The good news is I don't have to vote, and neither is anybody in the UK. But we do know that. Of course, there is a special relationship between the UK and the US, so whoever wins the elections, I'm sure will recognize the need to establish it.

It feels like we're heading into a more fragmented world and the less fragmented world has suited big international airllies. A more fragmented, fragmented world, in theory, would be the exact opposite. Is that a fair conclusion.

Well, you know, a unified I think in a global world is better for airlines, of course, because airlines are necessary in that type of an environment. There are more isolationist world is not where we play in it. There are one point four billion people voting this year. Of course, we're just about to finish the Indian elections, US, the

That is inclusive. Congratulations on the forty yes credit see thank you, thanks so much. Still about to say