Virgin Atlantic expects profitability in 2024 Demand

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Virgin Atlantic anticipates returning to profitability in 2024 following robust revenue growth driven by increased demand from holidaymakers. The airline reported a record revenue of £3.1 billion in 2023, marking a significant rise of £265 million compared to the previous year.

Although the airline reported an adjusted pre-tax loss of £139 million for 2023, Chief Executive Shai Weiss expressed confidence in the carrier’s progress, attributing the performance to strong demand for leisure air travel and holidays. Virgin Atlantic operated more flights than in 2019 and flew 5.3 million passengers to long-haul destinations.

Chief Financial Officer Oli Byers highlighted the airline’s positive performance since the beginning of the year, citing strong demand from premium leisure travelers and gradual recovery in corporate travel. The airline aims to double its operating profit to around £200 million this year, buoyed by plans to launch a second daily service from London to Mumbai in October.

Source: Reuters

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