UK’s Virgin Atlantic says it’s on course to return to profitability in 2024

LONDON (Reuters) – Richard Branson’s Virgin Atlantic said on Wednesday it would return to profitability this year after strong demand from holiday makers drove revenue up by 265 million pounds ($333 million) to a record 3.1 billion pounds in 2023.

The airline, which is 49%-owned by Delta Air Lines, reported an adjusted pretax loss of 139 million pounds for 2023 compared to a loss of 206 million pounds in the prior year.

Chief Executive Shai Weiss said the carrier had “capitalised on continued strong demand for leisure air travel and holidays”.

“A loss is never satisfactory; however, our performance and results illustrate that we have made really good progress in 2023, the plan is working, and Virgin Atlantic is on course to return to profitability in 2024,” he said.

($1 = 0.7957 pounds)

(Reporting by Paul Sandle; Editing by Sachin Ravikumar)


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