Virgin Atlantic Group doubles pre-tax profits
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Virgin Atlantic Group has reported improved profits for the latest financial year before tax and exceptional items of £22.5m, up from £10.1m in 2014.
The company attributed the rise to improved performance at both Virgin Atlantic and Virgin Holidays.
Virgin Holidays performed strongly and made a substantial contribution to this result, with a profit before tax and exceptional items of £10.9m, (a £5m year on year improvement which accounts for almost half of the overall profit figure.)
Commenting on the results, Virgin Atlantic CEO Craig Kreeger said: “We achieved these improved results in a year in which we also transformed our business and network, laying the foundations for a robust and enduring Virgin Atlantic. Having successfully returned to profit, this was the first full year of our four-year plan to deliver long-term success and profitability. We remained focused on our customers and it is a testament to our people that our satisfaction scores have continued to improve – I want to thank them for the tremendous work they do, every day.
“As we look ahead to a pivotal year in 2016 we will be investing into services and technology to benefit our customers and people, and will continue our £300m million customer experience investment. This year will see a new Passenger Service System, more new Boeing 787-9 aircraft arriving, a wifi rollout and a retrofitting programme on our Airbus A330-300 fleet.”
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