Virgin Atlantic sees £132m loss
VIRGIN Atlantic has reported a pre-tax operating loss for the period March 2009 to February 2010 of £132m.
That compared with a profit of £60m in the same period the year before.
Revenues for 2009/10 dropped 8.6 per cent to £2.35bn but operating costs reduced by eight per cent.
Virgin said it carried 15 per cent more passengers in its Upper Class (first class) cabin in March-May 2010 and also benefited from a successful start to its new service to Accra in Ghana.
The airline said cost of the Iceland volcanic ash cloud crisis had cost it an estimated £30m.
Virgin Atlantic chief executive Steve Ridgway said: “The start of the year has been encouraging despite difficult trading conditions. Demand is picking up across the majority of our routes and forward bookings for the summer have been very positive.
“From all of the major operational challenges that we have faced this year, including snow and volcanic ash, the response from everyone at Virgin Atlantic has been outstanding.”