Virgin Atlantic Moves to Profit From Brexit Vote after Branson’s Hard Remain Campaign

Virgin Atlantic

Virgin Atlantic has hailed the “Bright Side of Brexit” in advertising targeting American customers, a stance apparently opposed to the strong anti-Brexit, pro-Euro currency beliefs of co-founder Richard Branson.

Dedicated anti-Brexit campaigner and billionaire Sir Richard Branson fought hard to stop Britain voting to leave the European Union, even going so far as to bankroll the anti-Brexit lawfare campaign led by Gina Miller — yet his own business has clearly recognised Brexit for the business opportunity it is.

Targeted advertising on Facebook encouraged American travellers to take advantage of the “Bright Side of Brexit” — the dip in the British Pound Sterling versus the Dollar — to enjoy a better value for money trip to the United Kingdom.

The new adverts follow a similar campaign run by the airline in 2017, when a 60-second video showed an American tourist having a good time in London thanks to the Brexit vote.

Brexit minister David Davis said at the time that the move showed “the rank hypocrisy of millionaire businessmen like Sir Richard Branson… They are continually trying to talk up scare stories surrounding Brexit – but at the same time playing on its advantages.”

As reported by Breitbart London following the referendum, British businesses benefitted from the Sterling exchange rate adjustment as the advantageous terms it allowed encouraged investment and stronger exports to foreign markets.

This month it was revealed that British manufacturing had grown at the fastest pace in a decade, well exceeding gloomy predictions that Britain would suffer an economic “shock” after the Brexit vote.

Small and medium-sized businesses have seen particular benefits after the Brexit vote, with output rising at the highest rate in seven years. Confederation of British Industry (CBI) Principal Economist Alpesh Paleja noted: “Firms are clearly in an exporting sweet spot, able to exploit the competitiveness gains from a low exchange rate and a firm global backdrop.”

In November 2016, it was reported that another part of Branson’s business empire, Virgin Money, had enjoyed a Brexit boom, with a 19 per cent jump in mortgage lending as consumer confidence remained high.

Yet even Virgin Atlantic’s attempt to jump on the Brexit boom bandwagon may have come too late, as Britain’s economic performance and confidence has led to the value of the Pound Sterling rising, with the currency climbing back to pre-Brexit vote levels and hitting the $1.40 mark last week.

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