Full year loss for Virgin Atlantic

Victoria
By Victoria May 17, 2013 13:26

Full year loss for Virgin Atlantic

 

Virgin Atlantic Airways has posted a full-year loss of £69.9 million ($107 million), which includes Virgin Holidays. The main airline lost £93 million, which was partially offset by a one-time gain of £35.4 million and a £23.1 million contribution from other units.

The group blamed higher costs, sluggish economies and a dip in business travel during the London Olympics for the poor performance. However it reiterated that the airline would return to profit by Spring 2015, buoyed by a trans-Atlantic alliance with new shareholder Delta Air Lines.

Virgin flew 188,000 more passengers during the 12 months to end of February 2013, bringing the total flown to 5.5 million.

Victoria
By Victoria May 17, 2013 13:26
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