Thursday, March 24, 2016
Virgin Atlantic Sees Fuel Costs, Delta Partnership Boost Profits
|Virgin Atlantic tail fin. Photo: Delta|
[Avionics Today 03-24-2016] Virgin Atlantic’s its pre-tax profit more than doubled in 2015 to $32 million, after a succession of yearly losses as a result of lower fuel costs, according to its yearly report released March 22.
The airline, which is 51 percent owned by its founder Richard Branson and 49 percent Delta-owned, says it expects “significant growth” this year in profit as its fuel hedges unwind, enabling it to fully benefit from lower fuel costs.
Virgin also said its success was fueled by the growth of its joint venture partnership with Delta on transatlantic services, which delivered a 55 percent increase in profit.