Although recession has knocked down the profits of major airline company like the British Airways, as reported few days back, Virgin Atlantic managed to increase their profits. Virgin Atlantic, owned by Sir Richard Branson said its profits soared from 34.8 million pounds to 68.4 million pounds. It was a huge blow to its business rival British Airways that reported losses.

Virgin Atlantic managed this profit despite the recession and the soaring fuel prices. It flew 5.8 million passengers and their premium passengers helped them give that extra edge over its rival British Airways. Profits also poured in through the currency benefits. The company celebrates its 25 th anniversary this June. Richard Branson is of the view that its employees have done a terrific job in achieving this profit and will be rewarded 10 percent of the airline’s profits in their bonuses.

However, Virgin Atlantic could face some competition across the transatlantic as British Airways would partner with the American Airlines and Spanish Airlines Iberia. However, the approval is yet to be taken from the US authorities and might take six months.

Via: Guardian