Virgin Express revenues jump by 38%
Virgin Express airlines today said its second quarter profits had jumped by 38%, showing it has recovered following the September 11 terror attacks.
The discount airline - a subsidiary of Sir Richard Branson’s Virgin Group - said its revenues rose 33% to £1.8m (€2.8m) from £1.4m (€2.1m) for the same period last year.
The company said it had been successful attracting passengers that flew with the now bankrupt Belgian national carrier Sabena.
The company added that sales rose 9% to £39.7m (€62.3m) from £36.4m (€57.1m) last year. Virgin Express said it kept operating costs under control due to lower fuel prices and a weaker dollar.
Following the demise of Sabena, Virgin Express raised its European destinations from eight to 14 and increased the frequency of flights on profitable routes.
Also, Virgin Express said, the airline is attracting more business travellers.
