( CNN ) -- Virgin Atlantic 's outgoing chief executive officer , Steve Ridgway , says the company is flourishing in the industry 's `` squeezed middle , '' between low-cost and behemoth airlines . The 60-year-old , who took the helm in 2001 and announced his resignation this week , spoke to CNN about his time with Virgin , which he joined in 1989 . Since then , Virgin has expanded from two 747s to 40 long-haul aircraft -- but competition in the industry has also intensified . `` We were completely squeezed at the beginning , and so maybe we 've gone from being completely squeezed to being squeezed middle , '' Ridgway told CNN . `` But it 's something that makes us flourish . '' He added , `` I think that keeps us on our toes , it 's meant that we continue to grow . And above all , we continue to innovate . '' The company , founded by British tycoon Sir Richard Branson and famed for luxury in-flight entertainment , specializes in long-haul flights . But Ridgway wants Virgin Atlantic to expand and launch short-haul journeys , in an attempt to break BA 's monopoly over European flying routes . He said : `` We 've already put in our application to fly to Moscow . I was up in Scotland last week looking at the routes . '' Ridgway , who will step down in March next year , rejected suggestions that he was leaving the company over a pay dispute and said Virgin Atlantic management has been `` legendary '' in building up the carrier to its current size . He declined to speculate on a successor , saying : `` It 's too early to say . We are starting -- we started a process , and that will now run now through the rest of the year . '' CNN 's Oliver Joy contributed to this report .
BA CEO Richard Branson announced his surprise departure 2001 . Rejected suggestions that he was leaving the company over a pay dispute . The 60-year-old took the helm in next March , expanding from 747s to 40 long-haul craft . Declined to speculate on a successor : `` It 's too early to say ''