Virgin Atlantic boosted by business class flights

Virgin Atlantic has announced that it saw increased profits in 2007-08, largely owing to a surge in its number of business class passengers.

The airline's premium passenger numbers rose by some 22 per cent in the 2007-08 financial year as it competed for a share of the market with British Airways and other major carriers.

Overall, Virgin Atlantic carried some 5.7 million passengers during the year, an increase of 7.6 per cent on the previous 12-month period.

These figures were supported by a number of new route launches from the airline's Heathrow Airport base, to destinations including Chicago, Nairobi and Mauritius, as well as a new flight from Gatwick Airport to Kingston.

Speaking about the results, Virgin Atlantic president Sir Richard Branson took the opportunity to comment on the Competition Commission's recommendation of the break-up of BAA and the potential merger between British Airways and American Airlines.

"It's ironic that just as regulators are breaking up one monopoly – BAA – British Airways and American Airlines are trying to create another," he said.

"Our results prove that consumers want choice on transatlantic routes. Unless the regulators block the proposed BA/AA monopoly, consumers will lose out – and they'll pay higher ticket prices for the privilege."

Following its good results in 2007-08, Virgin Atlantic said that it made a strong start to the current financial year, with sales up by 16 per cent in the first quarter.

Posted by Penny, 26 August 2008 16:24

News tags

• American Airlines
• Virgin
• British Airways