Etravelconsult From , joined Dec 1969, posts, RR: Posted (13 years 8 months 1 week 1 day 15 hours ago) and read 3716 times:
We all have heard about the loss at British Airways and profit for Ryannair but what about the loss figure for Virgin Atlantic. Can someone shed some light on this airline as we sometimes forget about VS.
In a recent press conference by SQ Deputy Chairman and CEO, Dr Cheong expressed that SQ would have to carry the burden of Virgin's loss onto their balance sheet which will have a huge impact on SQ's financial figures for financial period ending 31st March 2002.
I am sure VS is operating at a loss at the moment and ever since and probably pre-September 2001 given 70 per cent of their business is trans-atlantic.
Ikarus From United Kingdom, joined Jan 2001, 3524 posts, RR: 2
Reply 2, posted (13 years 8 months 1 week 1 day 13 hours ago) and read 3665 times:
Virgin Atlantic is not a shareholder company, hence they can keep their financial status secret and do not need to disclose it publicly. Don't expect to hear any official or validated profit and loss accounts from them...
Yes, it's quite likely they're currently making losses. But my bet is that by the end of the year, they'll run reasonably stable again, with profits possibly already from next year onwards...
Of course, that is just speculation, like any other reply you're likely to get...
Etravelconsult From , joined Dec 1969, posts, RR:
Reply 4, posted (13 years 8 months 1 week 1 day 2 hours ago) and read 3596 times:
True, true...only time will tell what the loss at VS is when we hear from SQ in May 2002 about their own performance for the financial year ending 31st March 2002. Dr Cheong has indicated that they have to bear the pains from its investment in VS so things might are not looking too good for either SQ and VS.