Transportation Industry

Company Watch - Virgin Group

AirGuide Business, Feb 25, 2008

Feb 25, 2008

Boeing VP-Sales Ray Conner said here that the 747-8I is a major focus of the company's sales efforts and it hopes to secure orders for the aircraft this year. ANA, China Airlines and Virgin Atlantic are considered targets. Boeing has sold the 747-8I to Lufthansa and VIP clients. It also has sold 78 747-8Fs. Feb 20, 2008

Virgin Atlantic carried out the world's first flight of a commercial aircraft powered with biofuel on Sunday in an effort to show it can produce less carbon dioxide than normal jet fuels. Some analysts praised the jumbo jet test flight from London to Amsterdam as a potentially useful experiment. But others criticized it as a publicity stunt and noted scientists are questioning the environmental benefits of biofuels. Sunday's flight was partially fueled with a biofuel mixture of coconut and babassu oil in one of its four main fuel tanks. The jet carried pilots and several technicians, but no passengers. Virgin Atlantic spokesman Paul Charles predicted this biofuel would produce much less CO2 than regular jet fuel, but said it will take weeks to analyze the data from Sunday's flight reported AP. Feb 24, 2008

Virgin Blue enjoyed a 7.6% gain in earnings to A$135.1 million. Six-month revenue rose 8.1% to A$1.21 billion and operating profit fell 5.6% to A$176.1 million from the A$186.6 million earned in the semester ended Dec. 31, 2006. It flew 9.42 billion RPKs during the period, up 4.4% year-over-year, and load factor rose 1 point to 83.2%. Yield climbed 3.9% to A12.14 cents and unit revenue grew 5.2% to A10.10 cents. CASK excluding the above-mentioned one-off investments increased 5.6% to A8.98 cents. Feb 21, 2008

Virgin Blue pays short-term price for expansion. Virgin Blue reported an 8.8% decline in profit for the fiscal semester ended Dec. 31 to A$113.3 million fuel ($104.1 million) from A$124.3 million in the year-ago period as competition and heavy investment in future expansion took their toll. Feb 21, 2008

Virgin Blue H1 Profit Down 8.8 Percent. Virgin Blue announced an 8.8 percent fall in its first-half profit and flagged a tough environment in the second half. Virgin Blue, Australia's second-largest airline, said on Wednesday capacity growth was expected to exceed demand in the short-term, while high fuel costs would continue to impact the airline. Feb 19, 2008

Embraer also announced that Virgin Blue firmed purchase rights on four E-190s and converted three more purchase rights into options. The firm aircraft were valued at $150 million, rising to $262.5 million including options. Feb 21, 2008

Virgin Blue, during the six-month period, took one-off charges of A$21.8 million related to the introduction of Embraer E-170s, its New World Carrier program and the launch of its New Zealand and V Australia operations. It firmed purchase rights on four more E-190s at the Singapore Airshow. It now is operating or has committed to six E-170s and 18 E-190s. Feb 21, 2008

Virgin Blue announced an interline agreement with Thai Airways yesterday that will feature e-ticketing, a first for Blue. Feb 20, 2008

Virgin Galactic will order five more spaceships and hopes to become profitable five years from its commercial launch, now set for 2010, said Alex Tai, the firm's group director. Speaking at the Singapore Airshow, Tai said Virgin believes there is a "very strong market" for commercial space travel. Feb 22, 2008

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