Virgin Atlantic - Virgin Atlantic International Limited (VAIL). In November 2015, VAIL obtained its own Air Operators Certificate and Operating Licence, and commenced operations with two former Virgin Atlantic Airways Limited operated Airbus A330-300 aircraft taking over routes previously operated by Virgin Atlantic Limited between London Gatwick and Barbados, St Lucia, Antigua, Grenada and Tobago. These flights are operated on behalf of Virgin Atlantic. Upon incorporation as an AOC holder, the majority of Virgin Atlantic's landing slots at London Heathrow Airport were transferred to VAIL, allowing Virgin to access the value of the carriers slots by 'mortgaging' them through open investment from
Virgin Atlantic cumulative losses between 2010 and 2013 amounting to £233 million, the future of the 30-year-old airline was in doubt. In the same month, the airline announced it would cut 500 jobs to establish a more efficient management structure. In July 2017, Virgin Atlantic announced its intention to form a joint venture with Air France-KLM. Under the agreement, Air France-KLM will acquire a 31% stake in Virgin Atlantic currently held by Virgin Group for £220 million subject to execution of definitive agreements and receipt of final shareholder, board, and regulatory approvals. Virgin Atlantic would retain its independence as a UK airline