Price meet or beat policy

90% of our clients feel our Fares & Services are Good or Excellent!

Reliability & Credibility. In business since 1994

Choose from 100,000 properties worldwide

24/7 Customer Care

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.

Buzz Rewards
Free, Simple and Rewarding!
  • Earn Buzz Rewards points on select Bookings. It's FREE.
  • On accruing 5 points or more, you will receive a Fare Buzz Visa® Prepaid Card.
  • Turn your reward points into Shopping, Travel, Entertainment, Dining & much more.
*Fares are round trip, Fares include 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. .

© 1994 - 2017 Fare Buzz, Inc. All rights reserved. California: SOT #2073463, Washington: SOT #602755835, Nevada: SOT #20070138, Iowa: SOT #1223, JEN NY, INC. DBA FAREBUZZ Florida: SOT #ST40074