NYTimes.com Article: Virgin Hires Delta Head for Budget Carrier

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Virgin Hires Delta Head for Budget Carrier

March 12, 2004
 By THE ASSOCIATED PRESS





Filed at 10:28 a.m. ET

LONDON (AP) -- Virgin USA said Friday that it hired the
president of Delta Air Lines to lead the formation of a new
budget carrier in the United States.

Frederick W. Reid, Delta's president and chief operating
officer, was hired to get the new carrier off the ground by
the first quarter of 2005, Virgin USA announced in New
York.

The company is a subsidiary of Sir Richard Branson's Virgin
Group, which also operates Virgin Atlantic Airways.

The announcement gave no details of where the new carrier
would be based or what routes it intended to serve.

Reid is a former president and chief operating officer of
Lufthansa German Airlines, and has also held management
positions with Pan Am World Airways and American Airlines.

``Fred will best position the airline to succeed in a
competitive but poorly served market,'' said Frances
Farrow, chief executive officer of Virgin USA, Virgin
Group's business development arm.

``His extensive industry experience and passion to better
serve the customer are a strong complement to Virgin's
fresh approach to the airline industry.''

Delta said Reid's retirement was effective April 1.


``Fred Reid has been an asset to Delta during his more than
six years with us and we all wish him well in his future
endeavors,'' said Delta CEO Gerald Grinstein.

``Looking ahead, Delta has great talent and a deep bench,
which we will use to fill in behind Fred.''

http://www.nytimes.com/aponline/business/AP-Virgin-USA.html?ex=1080118535&ei=1&en=01d3fcd64c576864


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