Virgin 2015 profit 22.5m
Posted:
24 Mar 2016, 14:42by silverwings
http://www.reuters.com/article/us-virgi ... SKCN0WP1DPSeems they made a 22.5m profit last year. I've heard the target was originally 60m then revised down to 50m so a big difference as to what they achieved.
Re: Virgin 2015 profit 22.5m
Posted:
24 Mar 2016, 16:52by buns
Reading in The Times, VS lost out due to fuel hedging
so not surprised the sales were not as good as before.
buns
Re: Virgin 2015 profit 22.5m
Posted:
24 Mar 2016, 17:42by enjoyingit
If they "made" 329 million as quoted on fuel savings, but lost 198 million on hedges, then i would say that is terrible financial planning, and actually sounds more like they had a "punt" on higher fuel prices, rather than just covering what they needed. And without this windfall their 22.5 million profit would have been a 306.5 million loss. Lies, damn lies and statistics.
Re: Virgin 2015 profit 22.5m
Posted:
24 Mar 2016, 17:54by tontybear
VS is not the only airline to hedge it's fuel costs in advance. BA also took a hit as did DL and no doubt did numerous others..
In the past hedging has proved benefical when the oil price is rising and is good financial planning.
Re: Virgin 2015 profit 22.5m
Posted:
24 Mar 2016, 19:10by silverwings
tontybear wrote:VS is not the only airline to hedge it's fuel costs in advance. BA also took a hit as did DL and no doubt did numerous others..
In the past hedging has proved benefical when the oil price is rising and is good financial planning.
And despite the wrong hedging those airlines are making record profits - hence why I was a bit underwhelmed by this result. Oh well hoping for cheaper fares this year
