Virgin Atlantic claims it has won share from rival British Airways over the past year as it reveals pre-tax profits of £34.8m for the year to February. The strong results are attributed to growth in the number of business passengers.
It has also reported that the number of premium-paying passengers rose by 22%.
The airline says that it has also made a positive start to the year with pre-tax profits rising by 16% to £23.5m between March and May. It says the rise over the first quarter was driven by passengers switching from BA to avoid the chaos at Heathrow’s Terminal 5.
The strong profit result from the airline has come despite record rises in fuel prices.
Steve Ridgway, Virgin chief executive, says it has diversified its network, focusing on improving services for its upper class, premium economy and economy products.