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CORRECTED-Virgin Atlantic posts full-year loss of 93 mln stg
May 16, 2013 / 12:25 PM / 5 years ago

CORRECTED-Virgin Atlantic posts full-year loss of 93 mln stg

(Removes incorrect references to record loss in headline, first par)

LONDON, May 16 (Reuters) - 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.

“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

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