(Removes incorrect references to record loss in headline, first
LONDON May 16 British airline Virgin Atlantic
said tough economic conditions over the last year
dragged it to an annual loss of 93 million pounds.
The airline, founded by British billionaire Richard Branson,
on Thursday reported a loss of 93 million pounds ($141.60
million) for the year to the end of February, worse than the 80
million loss it reported a year earlier.
Its group pretax loss was 69.9 million pounds after a
one-off positive 35.4 million pounds exceptional item and 23.1
million pounds in other income was taken into account, it said.
Revenue increased by 5 percent to 2.87 billion pounds as 5.5
million passengers flew with the airline, 188,000 higher than
"Last year saw a double dip recession, a continued weak
macro economy, and an Olympic Games which, although a fantastic
event, severely dented demand for business travel," chief
executive Craig Kreeger said.
($1 = 0.6568 British pounds)
(Reporting by Rhys Jones; editing by Neil Maidment)