Virgin Atlantic is halting operations at London Gatwick. 

The cost-saving measure comes as the carrier continues to pursue loans from the U.K. government and other sources in an effort to remain solvent.  

Virgin Atlantic said that it intends to hold onto its landing slots at Gatwick so that it can resume service there eventually.

Virgin Atlantic also announced that is planning more than 3,100 job reductions and that it will retire its fleet of seven Boeing 747s. 

“Our vision for Virgin Atlantic remains the same - to become the most loved travel company, for our people and our customers,” the carrier said. “Once the crisis stabilizes, Virgin Atlantic has an important role to play in contributing to the U.K.’s economic recovery, providing essential connectivity and competition.”

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