Sterling’s plummeting value since Brexit vote cost Virgin Atlantic £50m last year.

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A competent company would have hedge against the Currency movement. The movement was offset by the slide in Oil pricing which from memory went down to $34. So, the B.o.D should be fired by the shareholders. Perhaps, that will start to wake up the UK B.o.D’s to being a tad more on the ball. BritExit is a figleaf to hide behind. You are in a business where FX & Oil price changes on a daily basis. You have been in the business for 20 years. Time to use that experience. Not come up with feeble excuses that know one believes. Oh and by the way. PAY your UK Taxes like everybody else does!

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Ted:

Hedging against “normal” currency fluctuations is relatively straightforward and costs relatively little. Could you inform us how you would have cost-effectively hedged against the “step change” plunge in the Brexit Pound. The Brexit Pound lost 15-20% of it value overnight and hasn’t recovered, nor does it look like it will recover for some years, if at all. Come on, clever clogs, give us the benefit of your infinite wisdom. P.S. How poor are you?

Read more: http://www.thisismoney.co.uk/money/markets/article-4356242/Sterling-s-plummeting-value-cost-Virgin-Atlantic-50m.html#ixzz4dB4b3pxd
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My response:

Well, Ted, Irrespective and regardless of the funds and assets of my name, I have a functioning brain. Knowledge is power and Power is Money. With this in mind, I have been destined to be wealthier than you since birth. When the Asset and finance are added to this, I’m clear living such a lavish lifestyle that I can afford to waste time replying to you without fear of being made Bankrupt. Enjoy your Evening Ted. :o)

Read more: http://www.thisismoney.co.uk/money/markets/article-4356242/Sterling-s-plummeting-value-cost-Virgin-Atlantic-50m.html#ixzz4dB4i1QRx
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About tagware

I've worked in IT for over 30 years. As the owner of one of the earlier AutoDesk Dealerships, when Richard Handyside was the main UK guy in The Cut! We supplied complete CAD, Networks and visualisation systems to Corporate clients such as RIBAS, Channel 4, NHS, BBC, Merrill Lynch, COMET Plc, Morgan Stanley too mention a few. We also developed the graphical ADB system for the Department of Health and a graphically lead Asset system for Merrill Lynch. Subsequently became a contract IT Consultant in both Developement and Production area's for both Large and small businesses. Which is what I'm still doing.
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