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
They aim to regulate relationships between countries and their citizens. These laws may influence Australian laws to be reformed on the basis of contradicting an international law. International laws can overpower Australian law and are still applicable to Australian citizens when overseas.
Virgin group limited is world largest british multinational company founded by Richard branson.it has various core business like travel,entertainment and life style and it includes 400 companies world wide.
Legislations and regulations are essential to have and follow in the working environment, it ensures safe practice for the workers and safety, protection and stability to people that are in their care.
Australian laws have two forms, public and private law. Public law is an individual versus the Australian government, for example, criminal law, constitutional law and environmental law. It involves public bodies, public matters and is the concern of everybody in Australia. Private law involves disputes between private citizens or entities, for example, contract law, family law and probate laws.
Qantas’ financial performance has been very successful in recent years with the business recovering strongly from GFC and a large decrease in revenue to ear 377 million in 2010. The effective financial performance has been the result of effective profitability, liquidity, efficiency, return on capital, good solvency and growth including the establishment of a new airline (jet star).
3. Australian International Law – Australia’s legal system and effectiveness. Peter Greste - Australian Government Department of Foreign Affairs and Trade.
Virgin Australia was established in early 2000, with operations comprising of two aircrafts flying one route and 200 employees. Since this, the company has greatly expanded its operations embracing a true national domestic network and then further expansion into the international flights by 2009 (Virgin Australia, 2012). Today Virgin Australia operates under the chairman of the Virgin group Sir Richard Branson and is owned by Virgin Blue Holdings, formally Virgin Blue Airlines. Under the brand name is V Australia and Pacific Blue, from which Virgin Australia flies its main aircraft
The first part of this report provides a broad introduction into the business of Virgin Australian by examining its principal sources of revenue, its nature of operating, its competitors, the market share and the regulations affecting its operations. From this, it can be seen that Virgin Australia operates in a very competitive environment and generates revenue by the core business of passenger and cargo transport.
Virgin Australia is Australia’s second largest domestic airline, commenced in operations back in 2000 as a low-cost carrier (LCC) and has successfully survived in the market. Major shareholders include Air New Zealand, Singapore Airline and Etihad Airways. The airline rebranded in 2011 as a part of their 5-year turnaround
Pratap (2017) The attractiveness of Virgin Atlantic is affected by a number of factors. Within the 21st century, the airline industry has been growing frequently and in demand. In spite of the speedy growing world economy, there are a number of forces that can affect the growth of Virgin Atlantic. Also, a number of forces determines the level of competition and competitiveness in the market that Virgin has to face.
Virgin Group LTD is a British venture capital conglomerate that has been around since 1970. Virgin encompasses over 400 different companies located in many industries such as: financial services, transport, food and drink, media and telecommunications. Headquartered in London, this British corporation has come a very long way since it’s birth in 1970. One of the main reasons for the companies success is because of its founder; Sir Richard Branson.
The aim of the following report is to assess the financial activity of Britvic PLC over a sixty months period, from January 2005 until December 2009, in order to make recommendations for a future investment in the company.
Virgin Group Ltd. is a British multinational branded venture capital conglomerate created by entrepreneur Richard Branson. Its core business areas are travel, performing and lifestyle, and it also achieves ventures in financial facilities, transport, health care, food and drink, media and telecommunications; together, Virgin 's businesses contain of more than 400 businesses worldwide.
Social environment – The cultural patterns, values, beliefs, trends, styles, preferences, heroes, villains, and conflicts that form the reference system of people’s behavior. These may include the effects of national cultures, individual ethnic cultures within a country, and various social segments such as teenager and people with various lifestyles,
I believe the Virgin Group, as a corporate parent, does add value to its businesses. The main way in which it adds value to the strategic business units is by the use of their brand name and image. This is very prominent and well recognised world-wide, and therefore gives each business unit instant recognition within their industries and therefore gives each business a strong external image to benefit from. Research shows that the Virgin brand was recognised by 96% of consumers in the United Kingdom, and 95% were able to associate Richard Branson's name with the brand. The brand name is also known for a huge variety of different businesses which shows the name has proved to be very versatile and can probably be put with most fields and brings an element of success.