13-May-2010 12:20 PM

Virgin Atlantic not optimistic about recovery

Virgin Atlantic CFO, Julie Southern, stated the carrier is taking a cautious attitude to planning and does not expect the UK economy to fully recover until at least 2012 (ABTN.co.uk, 12-MAy-2010). The carrier is now seeing air travel, and particularly freight, come back but it has only rebuilt to 2007 levels. The CFO does not expect normal demand levels to return until 2012 or 2013.

Virgin Atlantic: "There's a huge way to go to get the industry back to some sort of sustained profit levels. And we're not very optimistic about how quickly that will happen … Even when it does return, we're going to have to question what normal looks like," Julie Southern, CFO. Source: ABTN.co.uk, 12-May-2010.