10 November 2008

Virgin Atlantic outstrips BAââ¬â¢s half year profits

Virgin Atlantic and its tour operating arm Virgin Holidays saw pre-tax profits rise from Ã&#pound;43 million to Ã&#pound;72 million in the first half of the year.

This was based on revenues for the March to April period increasing by 15% from Ã&#pound;1.19 billion to Ã&#pound;1.37 billion.

Cash in the bank increased to Ã&#pound;688 million at the end of the first half of the year (2008/09), compared with Ã&#pound;599 million at the end of the last financial year (2007/08), the airline said.

The figures emerged the day British Airways revealed a plunge in pre-tax profits for the six months to September to Ã&#pound;52 million (see previous TravelMole story).

Virgin Atlantic reported an 11% increase in business travellers from Heathrow in the last 12 months, which is attributed to its Upper Class Wing private check in and security channel at Terminal 3.

by Phil Davies 

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