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Virgin Atlantic suspends its route from London to Austin because it says the city's tech boom is over
(www.businessinsider.com)
this post was submitted on 29 Oct 2023
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This is the best summary I could come up with:
Over the past decade, Austin's national reputation has become increasingly tied to the tech sector, with companies lured by its highly educated workforce and Texas-sized tax incentives.
But in a major decision, Virgin Atlantic on Friday announced that it would end its nonstop route from Austin to London less than two years after first offering the flights.
(tldr: 3 sentences skipped)
Such a statement is a reflection of significant changes in Austin, which just two years ago had arguably the buzziest commercial real estate market in the United States.
(tldr: 1 sentences skipped)
The report also noted the looming issue of vacancies in the lion's share of the new commercial real estate projects under construction.
(tldr: 5 sentences skipped)
Virgin Atlantic may be axing its London route from Austin, but British Airways remains, connecting the two cities with nonstop flights.
With the Austin route coming to a close, Virgin Atlantic announced that it would beef up its service between London and Miami for the summer 2024 season, increasing the number of flights between the two cities from 11 to 14.
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