Member Article

Virgin Atlantic takes off with first profit in four years

Virgin Atlantic has posted its first annual profit since 2011.

Sir Richard Branson has applauded staff at at the airline, after it made £14.4m in 2014 following a pre-tax loss of £54m the previous year.

It attributed its success to changes along with operational and cost efficiencies for achieving a target set in February 2013 to return to profitability within two years.

Sir Richard, who founded the airline, said: “I can’t think of a better way to complete our 30th birthday year than with a return to profit.

“The team at Virgin Atlantic has done a great job in turning around the airline and has the right strategy to take the business from strength to strength.

“Keeping our customers and our people at the heart of everything we do gives me great confidence in our future and I look forward to the next 30 years”.

Virgin group revenue was £2.9bn in 2014, with Virgin Holidays recording a profit for the year before tax and exceptional items of £5.7m, up £3m year on year.

The airline also marked a rise in passenger satisfaction scores despite more than 14% of its aircraft running behind schedule.

Among new routes to be launched this summer will be services between Manchester and Atlanta and London Heathrow and Detroit.

This was posted in Bdaily's Members' News section by Ellen Forster .