Revenue slump for Virgin Express
Richard Branson’s Virgin Express airline has reported a nosedive in revenue, and has blamed growing competition on European routes for the slump.
The company, which is battling for business with the no-frills carriers as well as the full-service and charter sectors of the industry, said its income amounted to just over £143 million last year, 13% down on the year before.
The drop in revenue came despite Virgin pruning its fleet of aircraft from 13 to 11, and travellers spending more money on services such as seats with extra legroom, pre-ordered meals, overweight luggage and lounges, Sky News reported.
The Brussels-based airline also slapped a fuel surcharge on tickets last year following a record rise in oil prices. The company’s pre-tax deficit for the year was £4.6 million, but that was still an improvement on 2003, when the airline racked up a loss of more than £13 million.
Virgin Express said it had cut costs from £11.1 million to £2.7 million, and had worked hard on punctuality, with more than 90 per cent of flights leaving and arriving on schedule.
Report by News From Abroad
Ginny McGrath
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025