Virgin Entertainment Group Inc history

1973: Branson forms record label Virgin Records.

Then, in 1976, the Pistols were dumped by the company that held their recording contract, following a particularly offensive display by the band on national television.

Then, in 1977, Branson moved in to sign a band that would bring the youth market back to Virgin with a vengeance.

In 1984 he came across another industry that interested him and about which he knew relatively little: the airline industry.

By 1985, Branson's Virgin companies were generating a hefty $25 million in profits from more than $225 million in sales.

Branson's second major stunt was a 1987 attempt to cross the Atlantic in a hot air balloon.

By 1988, the airline consisted of only two planes, but was boasting the highest occupancy rate and greatest profit margins in the industry.

In 1990 Virgin and Japanese retailer Marui created a 50-50 joint venture to operate Virgin Megastores in Japan.

The two decided to combine their knowledge of record store and video store retailing to run Virgin Megastores in the United States, the first of which opened in December 1992 in Los Angeles.

In 1993 Virgin launched an AM radio station aimed at music listeners in the 25- to 44-year-old group--the first national commercial rock station in the United Kingdom.

In late 1994 the Virgin Group joined with Canadian private label soda maker Cott Corp. to form the Virgin Cola Company Ltd. and attempt to go head-to-head with two of the world's top brands: Coke and Pepsi.

In March 1995 Virgin entered the personal financial services arena through the formation of Virgin Direct, which began offering investors shares in a new U.K. mutual fund and initiated sales of life insurance through telemarketing.

1996: Euro Belgian Airlines, a low-cost, short-haul airline, is acquired and renamed Virgin Express.

Virgin in January 1998 bought out Cott's interest in the venture, which had gained only a negligible share of the market.

In late 1999, however, Virgin announced that it would sell its cinema interests in Britain and Ireland to Vivendi of France.

In 2000, Virgin Blue’s first flight was DJ214 from Brisbane to Sydney on 31 August 2000.

Virgin Australia welcomed its millionth Guest onboard in June 2001.

Virgin Blue Holdings floated on the Australian Stock Exchange in December 2003, and Patrick Corporation invested a further $137m at the time of the Initial Public Offering.

In 2004, Pacific Blue, a New Zealand-based leisure-focussed international airline, was launched, offering flights between Australia, New Zealand, the Cook Islands, Fiji, Tonga and Vanuatu.

Also in 2005, Virgin Blue became the first Australian airline to offer an online Web Check-In service, and Virgin Blue’s 50th aircraft went into service.

In 2006, Toll Holdings acquired Patrick Corporation, therefore, taking a controlling 63 per cent shareholding in Virgin Blue.

In 2007, plans to establish a long haul international airline, V Australia, were announced, and Pacific Blue launched domestic services in New Zealand.

In 2008, Virgin Blue’s Premium Economy product was launched.

In 2009, V Australia flies for the first time from Sydney to Los Angeles (February) and Brisbane to Los Angeles (April).

In December 2010, final approval was received after Virgin Blue Group of Airlines and Air New Zealand have sought regulatory approval to create a trans-Tasman alliance.

In 2011, Virgin Australia is announced as the company’s new name, and the international airlines, Pacific Blue and V Australia, adopt the Virgin Australia brand.

After purchasing 60% of Tigerair Australia in July 2013, Virgin acquired the remaining 40% for $1.

On October 2014, Virgin Australia Holdings took full control of Tigerair Australia.

In August 2015, Virgin Australia converted its outstanding order for 17 Boeing B737-800 aircraft to the Boeing 737 MAX 8 model.

In 2016, Virgin Australia introduced new Business class and Economy Premium cabins on its long-haul international routes on board Boeing 777 aircraft.

In May 2017, Virgin Australia has today launched Economy X seats across its entire fleet, providing enhanced traveling experience.