Qantas wanted govt help to destroy Virgin Australia, says Richard Branson
Virgin Group boss Richard Branson says Qantas sought financial help from the federal govt so it could flood the market with flights and drive Virgin Australia out of business. Branson said Qantas only needed help when it went "cap in hand" to the govt in early 2014 so it could continue to fund a capacity war with Virgin. "They poured hundreds of millions of dollars into overcapacity into routes we were flying on, and they literally almost drove themselves out of business," Branson said Wednesday. Both airlines were damaged in the protracted capacity war which ended in mid-2014. Qantas has since gone on to post record earnings, but Virgin has struggled to reach profitability. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-07-06/oneworld/qantas-wanted-govt-help-to-destroy-virgin-australia-says-richard-branson
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Qantas wanted govt help to destroy Virgin Australia, says Richard Branson
Virgin Group boss Richard Branson says Qantas sought financial help from the federal govt so it could flood the market with flights and drive Virgin Australia out of business. Branson said Qantas only needed help when it went "cap in hand" to the govt in early 2014 so it could continue to fund a capacity war with Virgin. "They poured hundreds of millions of dollars into overcapacity into routes we were flying on, and they literally almost drove themselves out of business," Branson said Wednesday. Both airlines were damaged in the protracted capacity war which ended in mid-2014. Qantas has since gone on to post record earnings, but Virgin has struggled to reach profitability. <br/>
