New CEO at Virgin Atlantic

Virgin Atlantic has named Craig Kreeger, who has spent his entire career of almost 30 years at American Airlines, as its new chief executive.

He will replace Steve Ridgway, who is stepping down after 11 years in February.

The appointment of Mr Kreeger, 53, comes weeks after the airline's battle with American Airlines' transatlantic partner BA exploded once more, when Willie Walsh, the chief executive of BA's parent, said the Virgin brand would disappear from the skies after Delta's bid for a stake in the airline. Virgin's owner Sir Richard Branson responded he would pay out £1m if that happened in five years. Mr Walsh said "a knee in the groin" would be a fairer wager for the loser.