Virgin's mainland revenue jumps 41%
By Winny Wang |
August 11, 2011, Thursday
|
Print Edition
Print Edition
VIRGIN Atlantic's revenue from the Chinese mainland market increased 41 percent in the last fiscal year ending February 28, the Britain-based carrier said yesterday.
On its London-Shanghai route the carrier delivered 25,000 more passengers last fiscal year from the previous year.
Jim Bai, manager of Virgin Atlantic China, said: "Virgin Atlantic in China has made a positive contribution to the overall 2010/2011 results. This is largely owing to the increase of leisure travel by 57 percent and corporate travel by 42 percent compared to the previous year.
"Our active involvement in the Shanghai Expo to promote London and Shanghai as two great international city pairs gained us recognition in the east China market and loyalty continues to grow as our market shares in all our key areas have been higher. We remain the key player on the route despite increased competition," he added.
The carrier reported a pre-tax operating profit of 18.5 million pounds (US$30.05 million) last fiscal year, and its revenue increased 13 percent to 2.7 billion pounds although the winter closure of London Heathrow and the volcanic ash cloud crisis cost the business a combined 40 million pounds.
In the first quarter of this fiscal year, from March 1 to May 31, Virgin Atlantic posted revenue of 658 million pounds, up 7.6 percent.
The carrier plans to invest 100 million pounds in products, take delivery of two new A330 jets and open new services to the Caribbean and Ghana this year, which is expected to create 1,000 jobs across the airline.
Virgin Atlantic CEO Steve Ridgway said: "We have worked hard to introduce new aircraft, new routes and extra rotations to the existing network where there has been high demand."
On its London-Shanghai route the carrier delivered 25,000 more passengers last fiscal year from the previous year.
Jim Bai, manager of Virgin Atlantic China, said: "Virgin Atlantic in China has made a positive contribution to the overall 2010/2011 results. This is largely owing to the increase of leisure travel by 57 percent and corporate travel by 42 percent compared to the previous year.
"Our active involvement in the Shanghai Expo to promote London and Shanghai as two great international city pairs gained us recognition in the east China market and loyalty continues to grow as our market shares in all our key areas have been higher. We remain the key player on the route despite increased competition," he added.
The carrier reported a pre-tax operating profit of 18.5 million pounds (US$30.05 million) last fiscal year, and its revenue increased 13 percent to 2.7 billion pounds although the winter closure of London Heathrow and the volcanic ash cloud crisis cost the business a combined 40 million pounds.
In the first quarter of this fiscal year, from March 1 to May 31, Virgin Atlantic posted revenue of 658 million pounds, up 7.6 percent.
The carrier plans to invest 100 million pounds in products, take delivery of two new A330 jets and open new services to the Caribbean and Ghana this year, which is expected to create 1,000 jobs across the airline.
Virgin Atlantic CEO Steve Ridgway said: "We have worked hard to introduce new aircraft, new routes and extra rotations to the existing network where there has been high demand."
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