2-Aug-2010 1:50 PM

Virgin Atlantic's revenue up 10%

Virgin Atlantic revenue up 10% - consolidated financial highlights:

  • Three months ended 31-May-2010:
    • Revenue:
      • Airline: GBP513 million, +10% year-on-year;
      • Cargo: EUR52 million, +36%;
    • Passenger load factor: 82%, +5 ppts;
  • 12 months ended 28-Feb-2010:
    • Revenue: GBP2,357 million, -8.6%;
    • Operating costs:
    • Airline: -8%;
    • Operating profit (loss): (GBP132 million);
    • Cash position: GBP450.5 million. [more]

Virgin Atlantic: "The start of the year has been encouraging despite difficult trading conditions. Demand is picking up across the majority of our routes and forward bookings for the summer have been very positive … Along with the rest of the industry, we have just faced one of the toughest years in our history. However, the early action that we took to deal with the losses from the worst recession on record, not only enabled us to protect the business; it provided us with a strong platform for growth this year. We have just delivered a new brand identity, are hiring hundreds of new staff and are looking forward to the new aircraft deliveries early next spring,” Steve Ridgway, CEO. Source: Virgin Atlantic, 30-Jul-2010.

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