LONDON: British airline Virgin Atlantic said tough economic conditions over the last year dragged it to a record annual loss.
The airline, founded by British billionaire Richard Branson, on Thursday reported a loss of 93 million pounds ($141.60 million) for the year to the end of February, worse than the 80 million loss it reported a year earlier.
Its group pretax loss was 69.9 million pounds after a one-off positive 35.4 million pounds exceptional item and 23.1 million pounds in other income was taken into account, it said.
Revenue increased by 5 percent to 2.87 billion pounds as 5.5 million passengers flew with the airline, 188,000 higher than last year.
"Last year saw a double dip recession, a continued weak macro economy, and an Olympic Games which, although a fantastic event, severely dented demand for business travel," chief executive Craig Kreeger said.
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