Increase in Business Travelers Drives Record Sales at Virgin Atlantic

Virgin Atlantic Limited witnessed a significant increase in the number of business travelers helped to boost profits and achieve record sales in the last financial year.

During fiscal year 2005-2006, which ended February 28, Virgin Atlantic recorded revenues of £1.91 billion, up 17 percent on the previous year (£1.63 billion).

Pre-tax, pre-exceptional profits for Virgin Atlantic Limited, which includes the scheduled airlines Virgin Atlantic Airways and Virgin Nigeria Airways as well as the tour operator Virgin Holidays, more than doubled from £20.1million to £41.6million.

The launch of the new Upper Class Suite helped to attract more premium-paying passengers, with a 10.1 percent increase in business travelers compared with the year before. A total of 4.9 million travelers chose to fly Virgin Atlantic and Virgin Nigeria, up 11 percent on the year before (4.4 million).

During the year, Virgin Atlantic Airways also invested heavily in new on-the-ground facilities for business customers, such as the new Clubhouse at London Heathrow, which has already won a string of top design awards.

The airline also launched new services to Mumbai, Havana and Nassau. The profits come despite a tougher operating environment, with a 30 percent increase in fuel costs over the year and continuing overcapacity on some routes, especially between the UK and the North Atlantic.