V-Flyer

BBC news story here.

Phil

I am delighted to read this. The way the industry is at the minute, I think a lot of people were convinced that after 'only' a £6m profit last year the only way was down.

Well done Virgin!!

Maybe they should spend some of that on upgrading the LGW fleet interiors...

Good to see a increase in profit although £35 million pre tax isn't a massive amount in airline terms.
I'd be interested in seeing how they have done since April. As said in the interview since these figures were produced the oil price has shot up. Also not sure how this so called 'credit crunch' has affected them in terms of passenger numbers.

-Steve

About T5. 'I'm not gloating but....' [oo]

Gotta love SR.

Originally posted by barnstaple
Maybe they should spend some of that on upgrading the LGW fleet interiors...

After tax that wouldn't be enough.

Perhaps with the profits in mind they will re-introduce more than a muffin in PE for breakfast.[:?]

Originally posted by Stevieboy

I'd be interested in seeing how they have done since April. As said in the interview since these figures were produced the oil price has shot up. Also not sure how this so called 'credit crunch' has affected them in terms of passenger numbers.

-Steve

I agree. My own feeling is 'all very well', but the general economic slowdown hasn't yet shown in the figures. There will always be a bit of a delay as companies tighten the reins and confidence ebbs from the general public (we see enough doom and gloom in the media for that to be a forgone conclusion). We'll see, but as sure as the bear market follows bull, so the converse is true. Just depends how long we have to wait.

Phil

Two things in the article interest me:

- Q1 sales up 17% on previous year (so credit crunch not yet biting, but fuel surcharges no doubt added a good wallop of revenue)

- 'have built up a strong cash position', hhm I wonder why [:?]

http://business.timesonline.co.uk/tol/b ... 613338.ece

£600 Mill in cash!

By having continual sales to get in the revenue now, which can sit and earn interest.

Not just business travellers... They've grabbed a fair proportion of my bank balance with very good Z fare sales!!!

Originally posted by RichardMannion
By having continual sales to get in the revenue now, which can sit and earn interest.

My, what costs about £600m ... well $450 to $500 more likely [:w]

You'll find that most airlines are very long in cash - given that cash doesn't actually become the airlines until the pax has flown, they need to be able to refund every unflown ticket should the worst happen and they have to stop flying immediately. Well that's the theory, for the big guys at least...