Observation of Virgin Company

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1. Introduction Virgin Airways or Virgin Australia is a member of Virgin Group which was established by Richard Branson in 1970 with various sectors such as mobile telephony, transportation, travel, financial services, media, music, fitness and tourism. Virgin Australia was first put into operation on 31 August 2000 by the first flight DJ214 from Brisbane to Sydney. On that date, the company just had one route, two aircraft and a team of 200 people. Neil Chatfield, who has an extensive experience across a range of industries, is an Independent Non-Executive Chairman of Virgin Australia. There are eight different directors who are co-responsible for the Board with Neil Chatfield and John Borghetti – the current Managing Director and Chief…show more content…
35). Virgin Australia has included all of them. 3.3.4.1 Economical Conditions Economic conditions include the terms, such as, inflation, income level and others (Davidson, Poole and at all 2011, pp 35). According to Virgin Australia (2011) the company received strong underlying result for the first half of year. As evidences, the company published Annual Report 2011 with information that proves company’s improvements. For instance, company’s total revenue has increased by 18.4 per cent from 1695 million dollars to 2006.4 million dollars, net profit after tax increased by 117.6 per cent from 23.8 million dollars to 51.8 million dollars, significant improvement in liquidity, with 506 million dollars of unrestricted cash and 851 million dollars total cash balance(Virgin Australia, Annual Report 2011). 3.3.4.2 Political-Legal Conditions Law and government regulations are input in political-legal conditions. Virgin Australia (2011) includes laws and regulations, for instant, legal compliance, privacy and information, intellectual property and others. 3.3.4.3 Social-Cultural Conditions Social-cultural conditions contain the general state of social values, such as, human rights, social institutions (Davidson, Poole and at all 2011, pp 35). Virgin Australia is always
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