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4-May-2021 9:44 AM

Virgin Atlantic Airways reports GBP539m operating loss in 2020

Virgin Atlantic Airways reported (30-Apr-2021) the following financial highlights for the 12 months ended 31-Dec-2020:

  • Revenue: GBP868 million, -70% year-on-year;
    • Passenger: GBP445.7 million, -78%;
    • Cargo: GBP318.7 million, +49%;
    • Holidays: GBP95.8 million, -85%;
  • Costs: GBP1420 million, -51%;
    • Labour: GBP277.4 million, -34%;
    • Airline direct operating costs: GBP239.7 million, -60%;
    • Fuel: GBP184.6 million, -73%;
  • Operating profit (loss): (GBP539.2 million), compared to a profit of GBP54.5 million in p-c-p;
  • Net profit (loss): (GBP864 million), compared to a loss of GBP55 million in p-c-p;
  • Passengers: 1.2 million, -80%;
  • Load factor: 61.1%, -20pp;
  • Passenger revenue per ASK: GBP 3.18 pence, -26%;
  • Total sectors: 10,601, -55%;
    • Cargo only: 3897;
  • Total assets: GBP2816 million;
  • Cash and cash equivalents: GBP114.8 million;
  • Total liabilities: GBP3392 million. [more - original PR]

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