Virgin Atlantic losses widen due to Olympics

Suzie Neuwirth

AIRLINE Virgin Atlantic today announced a 16 per cent increase in losses for the year, due to challenging economic conditions and decreased demand for business travel caused by the London Olympics.

The company reported a loss of £93m for the year to the end of February, compared to £80m losses the previous 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,” said chief executive Craig Kreeger.