Earn Buzz Rewards points on select Bookings.
It's FREE - SIGN UP Now!
Why Book With Fare Buzz?
With over 80 negotiated Airline contracts we offer you the cheapest fares.
We have been in business since 1994 and are proud members of BBB with an excellent rating.
Our Business Travel Consultants work out the best fares for the most complicated itineraries.
Our Agents are available 7 Days a Week.
Client Testimonials

I just spoke with Ashton regarding booking to Orlando, Fl. and he was by far the most helpful, pleasant, and delightful representative that I have ever dealt with. I am so grateful that I made the call ...Read More
-Clare

Share with friends  

Virgin Atlantic Airways declares operational results, reports full-year loss

The flights being operated by Virgin Atlantic Airways have failed to put up a strong showing. The airline recently declared its operational results and said that it had suffered a huge loss.

Virgin Atlantic Airways in a statement said that it had suffered a full-year loss because of tough economic conditions and higher fuel costs.

Virgin Atlantic Airways, founded by Richard Branson and partly owned by Singapore Airlines, has reported a pretax operating loss of $124.5 million (80.2 million Pounds) in the year to the end of February as compared to a profit of $28.98 million (18.5 million Pounds) in 2010-11.

The airline, however, said that the sale of its air tickets was good. According to the airline, its passenger numbers increased 2 percent to 5.4 million during the year. Apart from this, the load factor of Virgin Atlantic Airways was at 78 percent.

Steve Ridgway, Chief Executive of Virgin Atlantic Airways, said that the market had been quite challenging indeed, and under the circumstances the airline managed to grow top line revenues and carried more passengers than last year.

Ridgway said that the uncertain economic environment, high fuel prices and a 25 percent increase in air passenger duty fees at present has however not been able to convert this sales growth into profits.

** Fares are round trip, Fares incl. all fuel surcharges, our service fees and taxes. Tickets are non refundable, non transferable, non-assignable. Name changes are not permitted. Fares are subject to change without notice. Fares subject to availability. There is a higher probability of seats being available at this fare on Tuesday, Wednesday & Thursday. Certain Blackout dates may apply. Holidays & Weekend travel may have a surcharge.Other restrictions may apply.