Virgin gets the taste for premium travellers – but monster monopolies off the menu
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Virgin Atlantic this week reported a healthy pre-tax profit for the full year to 29-Feb-08, at GBP60.9 million, up from GBP44 million the previous year. A rise of 22% in “business travel” bookings saw group sales increase 9.1%, to GBP2.34 billion. CEO, Steve Ridgway, attributed some of that increase to passengers diverted from near-neighbour, British Airways, as the bigger carrier went through its T5 baptism of fire in the first half of the year. Virgin is to maintain its premium thrust, as economic conditions weaken. [649 words]