Virgin Charter has had its fair share of ups and downs over the past few months. The charter marketplace suffered a drop in business in late August and September due to the economic downturn, but transaction activity at Virgin now appears to be steadily rising as a result of a shift in clientele, a new business strategy and several new partnerships.
Virgin Charter today announced that it has partnered with global travel management company Radius, which will use the online marketplace to find and book charter flights for its clients. The news is tempered, however, by reports that Virgin Charter has laid off a number of employees.
Despite its well-known brand name, Virgin Charter has not been immune to the economic downturn. The charter marketplace saw a drop in business last month, and particularly within the last two weeks, according to founder and CEO Scott Duffy. The reported decrease is in line with the drop in revenue reported by a majority of charter operators and brokers. Most indicate that business has dwindled by 10 to 40 percent.