Virgin boss predicts hard times for airlines

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

But it will be the best for passengers, as airfares have been pushed down to the levels they were at 20 years ago, the Virgin tycoon added.

Speaking in Tokyo today, at a press conference to mark Virgin Atlantic's 20th anniversary of flying to the Japanese capital, Sir Richard said: "It's not nice out there for any airline.

"This year is likely to be the worst year in the history of aviation for the airline industry. It goes through cycles, and you have to prepare for these cycles. You reap the harvest and you build up a nest egg for the bad years.

"Fortunately Virgin Atlantic is prepared to weather it. It will be a bad year for all airlines out there."

He added later: "For the travelling public it will be the best year in the history of aviation because the price of travelling anywhere in the world is about the same price as when we started in Japan 20 years ago. It is a fantastic time to travel.

"If people have got the cash, this is the year to go abroad and visit friends and relatives," Sir Richard added.

Sir Richard also revealed today he is to set up an independent "carbon war room" to look at climate change.

He said: "It is to look at every single idea, and every single way of tackling carbon and then to advise governments around the world of the most cost effective ways to tackle carbon."

Sir Richard added: "We should be on a war footing when it comes to global warming. We need to tackle carbon head on."

He said that all airline companies must back governments across the world when they meet in Copenhagen at the end of the year for a climate change summit.

Sir Richard is expected to unveil more details of his plans to tackle climate change later this month.