Virgin Atlantic narrows loss to $175 million in 2023; on course to return to profit in 2024

Virgin Atlantic has narrowed its losses for the year in 2023 to £139 million ($175 million) from £206 million ($260 million) in 2022.  Its total revenue was up £265 million ($334.5 million) from 2022 to £3.1bn ($3.9bn) in 2023. Its EBITDA for the year was £352 million ($444.3 million). The company said that it is on course to return to profitability in 2024. It added that it ended the year with a cash position of £406 million ($512.4 million), up from £399 million ($503.6 million) in 2022. “A loss is never satisfactory; however, our performance and results illustrate that we