Virgin Atlantic a result of a High Court action, this additional payment was received shortly before Fields' death in 1997. On 22 June 1984, Virgin Atlantic operated its inaugural scheduled service, flown between Gatwick and Newark using a leased Boeing 747-200 (registration ), christened "Maiden Voyager", which had been formerly operated by Aerolíneas Argentinas. From the onset, its activities were augmented by leveraging existing Virgin Group resources, such as tickets being sold at Virgin Megastores record shops. Part of Richard Branson's declared approach to business is to either succeed within the first year or exit the market; this ethos includes a one-year
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