Guest

What Is The "Loss" Figure For Virgin Atlantic

Tue Feb 05, 2002 8:24 pm

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.
 
VgnAtl747
Posts: 1333
Joined: Fri Apr 06, 2001 3:59 am

RE: What Is The "Loss" Figure For Virgin Atlantic

Tue Feb 05, 2002 9:38 pm

I haven't heard any numbers. Also remember that they stopped the Athens route. I would have thought that was a money maker for them too.

VgnAtl747
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Ikarus
Posts: 3398
Joined: Mon Jan 08, 2001 10:18 pm

RE: What Is The "Loss" Figure For Virgin Atlantic

Tue Feb 05, 2002 10:06 pm

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...

Regards

Ikarus
 
docpepz
Posts: 1706
Joined: Thu May 24, 2001 8:20 pm

RE: What Is The "Loss" Figure For Virgin Atlantic

Tue Feb 05, 2002 10:38 pm

Virgin may choose to keep it secret.

But SIA is a listed company. If they bear half the loss of virgin, won't it be reflected in their books? Won't their shareholders know? And thus won't we know the full extent of Virgin's lost?
 
Guest

RE: What Is The "Loss" Figure For Virgin Atlantic

Wed Feb 06, 2002 8:58 am

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.
 
padcrasher
Posts: 1815
Joined: Tue Aug 10, 2004 6:17 am

RE: What Is The "Loss" Figure For Virgin Atlantic

Wed Feb 06, 2002 9:09 am

Why not join an alliance? Star, Wings, Skyteam, Oneworld?

This is the future of World aviation. Why the delay?

The longer they wait the more they will be left behind.

They're already gaining a reputation in the U.S for putting out rock bottom rates to lure traffic. What a sorry situation for an airline with good service.

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