Virgin Atlantic cuts losses

Virgin Atlantic has posted a reduction in losses in 2013 thanks to the company’s turnaround programme. In the 12 months to December 2013, Virgin Atlantic made a pre-tax loss of £51 million. Last year, it reported a loss of £128.4 million. During the ten months from March to December, the airline was keen to point out that it made a profit of £7 million before tax and exceptional items. Group turnover increased by 4.9%, with passenger revenue totalling £153 million. New chief executive Craig Kreeger praised the “good progress” made last year and that the airline would reach profitability by