Virgin Soars as BA Posts Record Loss
Branson's airline doubles profits year-on-year
By Jason Farago,  Newser Staff
Posted May 26, 2009 5:37 AM CDT
Richard Branson unveils Virgin Atlantic's No Way BA/AA campaign, in opposition to the proposed monopoly between British Airways, American Airlines and Iberia.   (AP Photo/PA, Anthony Devlin)
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(Newser) – Virgin Atlantic announced today that its annual profits had nearly doubled to $109 million, while its rival British Airways posted a record annual loss of $638 million. According to the Times of London, Richard Branson's airline increased its market share and drew substantial revenue from its premium services. Virgin, which is partially owned by Singapore Airlines, has been fighting BA's efforts to align with American Airlines and Iberia, which it considers a violation of monopoly laws.