Britain is likely to have a bilateral arrangement in place to keep transatlantic flights going after it leaves the European Union, the head of Virgin Atlantic Airways said on Thursday.

Britain needs to negotiate an air transport service agreement with the European Union to keep planes in the air when Britain leaves the bloc and will also need a replacement for the "open skies" agreement between the United States and the European Union.

"I have a lot of confidence that what we've seen this year is an indication of the fact that the UK is not going to cut itself off from the rest of the world, from a travel perspective," Virgin Atlantic's CEO Craig Kreeger told Reuters at an industry conference in London.

"I'm confident that the UK and U.S. will have a bilateral arrangement in place that means flight don't cease. The things that are really important will work their way out over time."