The new fares on both BA and Virgin Atlantic will see them go head-to-head with the likes of Norwegian and Wow Air.
Economy Light is the bargain basement of its new fare structure.
The new economy cabin fare categories come at a time when full-service carriers are striving to compete with low-priced, budget carriers; they allow Virgin Atlantic to offer the frills-free basic economy fares that mimic those of Delta, its joint venture partner.
The London-based carrier announced Wednesday that, beginning Spring 2018, it will offer three different economy class fares: "economy delight", "economy classic" and "economy light".
"Along with these new economy cabin ticket categories, Virgin Atlantic will remove the word economy from its proper premium economy service, which includes amenities such as wide leather seats with 38" pitch.
More personalised service at the airport: For the first time Virgin Atlantic is introducing automated bag drop at London airports, freeing up employees to provide a more personalised service where customers need it most. The idea is that Economy Light is the cheapest of the cheap choices, for people who want a hand-luggage-only trip with no cancellation option or eye contact from the sky servant people, with Economy Classic being about the equivalent of what's on offer now. Economy Classic passengers, like those flying on an Economy Light fare, will get 31 inches of pitch (the space between rows).
Virgin Atlantic's chief executive said he was confident a deal would be done to secure Britain's flying rights after Brexit, as the airline launched an extra legroom economy seat to try to stand out from the crowd amid intense competition. In addition, they'll also continue to get one free checked bag.
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Kreeger was speaking as Virgin Atlantic on Wednesday announced that it would refit the cabins of its Boeing 787 Dreamliners to offer a new type of economy seat with legroom of 34 inches (86 cms), bigger than the 31 inch economy offering.
Serving up the best economy meals in the sky: All customers travelling in economy will continue to enjoy a three course meal plus complimentary drinks and snacks -with a focus on supporting independent suppliers such as United Kingdom based Fairfield Farm Crisps, and the Grown Up Chocolate Company.
Virgin Atlantic plan to introduce the new fares in the spring but has so far not revealed any ticket prices.
Virgin Atlantic's announcement comes just two days after another Delta joint venture partner, Aeromexico, unveiled a package of branded fares.
The airline say this will make long-haul travel affordable and accessible for millenials and those going on city breaks.
Last year, Virgin Atlantic said Air France-KLM would buy 31 percent of the airline from Richard Branson's Virgin Group, making it the second largest shareholder after US airline Delta, which owns a 49 percent stake, and reducing Virgin Group's stake to 20 percent.
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