"Craig is the right person to succeed SteveRidgway at this dynamic and challenging time for our airline, " said Sir Richard, who remains Virgin's president.
"While the outlook remains pretty overcast for the aviation industry, the winners will be those airlines that focus on offering the best customer service, " said SteveRidgway, Virgin Atlantic's chief executive.
SteveRidgway, CEO of Virgin Atlantic Airways expresses his frustration that airlines are the only companies that cannot be owned by foreign buyers in the U.S. "An airline is no different to a car company or a telephone company, " he says.