Virgin Atlantic announces financial results

Airline Industry Information, August 27, 2008

AIRLINE INDUSTRY INFORMATION-(C)1997-2008 M2 COMMUNICATIONS LTD

Virgin Atlantic has announced its financial results for the 2007/2008 financial year.

The airline said that, for the year, it recorded pre-tax profits of GBP34.8m, as compared to GBP6m in the prior year.

The airline also flew a total of 5.7m passengers, showing an increase of 7.6%. During the year, the number of premium passengers travelling increased by 22%.

The company has put the increases down to problems at Heathrow's Terminal 5, which experienced issues with baggage handling when it opened in March 2008, as well as an increase in the number of business travellers, the BBC reported.

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