Virgin Atlantic Post £69.9 Million Annual Loss.

Virgin Atlantic today revealed an operating loss for the 12 months to February 2013 of £69.9 million. This compares to an £80.2 million loss the previous year. Revenues were up 5% to £2.87 billion and passenger numbers up from 5.4 million to 5.5 million. The losses would have been much higher except for a one-off positive £35.4m exceptional item and £23.1m in other income

Delta Agrees to Take 49% Stake in Virgin Atlantic.

Delta today announced it has agreed to take Singapore Airline’s 49% stake in Virgin Atlantic for US$360. This makes it likely that should Virgin Atlantic join an alliance then it will be SkyTeam rather than Star Alliance. Delta and Virgin Atlantic will apply for anti-trust immunity allowing it to co-ordinate fares and flight schedules and codeshare on each other’s services.

Virgin Atlantic CEO Steve Ridgway to Step Down.

Virgin Atlantic CEO Steve Ridgway today announced his intention to step down from the role in Spring 2013. Mr Ridgway has held the position since 2001. As yet no successor has been named.

Virgin Atlantic Announce £80.2 Pre-Tax Loss.

Virgin Atlantic today revealed an operating loss for the 12 months to February 2012 of £80.2 million. This compares to an £18.5 million operating profit for the previous year. Revenues were up 3% to £2.74 billion and passenger numbers up 2% to 5.4 million.

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