Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

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
Email

(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.

Richard Branson unveils Virgin Atlantic's No Way BA/AA campaign, in opposition to the proposed monopoly between British Airways, American Airlines and Iberia.
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)
Sir Richard Branson, president of Virgin Atlantic Airways, spoke at the National Press Club on Thursday, May 14 about the importance of a monopoly-free aviation industry.
Sir Richard Branson, president of Virgin Atlantic Airways, spoke at the National Press Club on Thursday, May 14 about the importance of a monopoly-free aviation industry.   (Jose Luis Magana/AP for Virgin Atlantic Airways)
A British Airways Boeing 747 passing a Virgin aircraft as it takes off from London's Heathrow airport in this file photo of March 23, 2007.
A British Airways Boeing 747 passing a Virgin aircraft as it takes off from London's Heathrow airport in this file photo of March 23, 2007.   (AP Photo/Tim Ockenden/PA Wire)
A British Airways plane comes in to land at Heathrow Airport in London, Wednesday, Aug. 1, 2007.
A British Airways plane comes in to land at Heathrow Airport in London, Wednesday, Aug. 1, 2007.   (AP Photo/Kirsty Wigglesworth)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

 
Richard Branson • airline industry • profits • British Airways • Virgin Atlantic

More Newser Stories

Brit Flights Will Bar 'Flu-ish' Passengers

'Sexist' Airline Ad Riles Up UK TV Viewers

UK Cabin Crews Knock Passengers Online

British Airways Boss Slams US Security Checks

12-Day Strike Will Ground British Airways
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne