By Ilaria Grasso Macola
Virgin Atlantic’s boss Shai Weiss has called on Prime Minister Liz Truss to make “difficult decisions” and bring the pound’s value up.
“The message to the government is pretty clear in my mind,” he told journalists on Tuesday morning. “Prime Minister Liz Truss has taken difficult decisions upon entering the role.
“Maybe you need to take a more difficult decision to reverse the declining pound and ensure that this country is not left with unsustainable perceived weakness in international markets, which of course then impact interest rates, impact consumers, impact mortgage rates, impact the entire economy.”
The carrier – which announced today it will enter global airline alliance SkyTeam from early 2023 – said the currency’s value was hurting the economy and consumers as it was “fuelling the inflation vicious cycle that we’re in.”
The pound slumped today to $1.08 while inflation rates are at 9.9 per cent.
According to Weiss, Virgin Atlantic was cushioned for the next six to 12 months due to “smart decisions we took earlier on” but remained concerned “like everyone else in this country with the economic environment in which we operate.”
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