Belfast Telegraph

New Flybe co-owner Virgin in £38.9m loss

Virgin Atlantic has posted another loss (PA)
Virgin Atlantic has posted another loss (PA)

By Ravender Sembhy

Virgin Atlantic has posted its second consecutive year in the red as the airline was hit by the Brexit-hit pound, economic uncertainty and engine woes.

Last month Virgin led a consortium takeover of Flybe, Belfast City Airport's anchor carrier.

Founded by Sir Richard Branson, Virgin posted a statutory loss of £38.9m in the year to December 31, which compares to £65.5m in 2017.

Stripping out exceptional items, the firm posted a £26.1m loss. The airline's performance was dragged down by what it described as "softer consumer demand" linked to economic uncertainty and the weakness of the pound versus the dollar following the Brexit vote, which has knocked demand from UK travellers.

Belfast Telegraph

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