Virgin Atlantic reports first profit in post-pandemic era in the UK
/Article


Virgin Atlantic, a British airline mainly owned by Richard Branson, announced its return to profit for the first time since the pandemic. In 2024, the airline, where Delta Air Lines holds a 49% stake, reported a pre-tax profit before exceptional items of 20 million pounds, a significant improvement from the previous year's pre-tax loss of 139 million pounds. The airline's profitability was boosted by an increase in the number of passengers flown, rising from 5.3 million to 5.6 million in 2024, and by the expansion of its holiday business.

Chief Executive Shai Weiss described 2024 as a milestone in Virgin Atlantic's transformation. While optimistic about the future in 2025, Weiss did not provide detailed projections due to uncertainties surrounding U.S. economic conditions and their potential impact on travel demand. Delta Air Lines, a co-owner of Virgin Atlantic, recently revised down its first-quarter profit forecasts amid concerns over weakening consumer and business confidence in the U.S. Virgin Atlantic revealed that it managed to repay 174 million pounds of pandemic-related debts in 2024, strengthening its financial position. By the end of 2024, the airline held cash reserves of 443 million pounds.

Leave a Reply