Virgin Atlantic Doubles Profit In 2015

Virgin Atlantic has reported a pre-tax profit of £22.5m ($32m) for 2015, more than doubling the £10.1m ($14.4m) amassed in the previous year.

Virgin Atlantic has reported a pre-tax profit of £22.5m ($32m) for 2015, more than doubling the £10.1m ($14.4m) amassed in the previous year.

Last year, the airline’s group revenues totaled £2.7bn, while operating costs were reduced to £196m (279m) year-on-year, which the UK-based carrier said was largely driven by fuel cost reductions.

However, the airline’s average revenue passenger load factor fell by 2.5 points year-on-year, which Virgin put down a “significant redeployment of capacity” which saw a 14.8 per cent increase in its transatlantic capacity.

Virgin Atlantic’s chief executive Craig Kreeger said in 2016, the carrier will continue to invest in new technologies as it targets sustained profitability by 2018.

“This year will see a new Passenger Service System, more new 787-9 aircraft arriving, a Wi-Fi rollout and a retrofitting programme on our A330-300 fleet,” he said.

 

TAGS: Europe
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