Virgin Atlantic, owned by Sir Richard Branson, has posted its best profit performance in six years, despite losing some £60 million to the higher cost of fuel in the year. The airline has earned criticism for cashing in on fuel costs.
However, Virgin Atlantic states it recovered just one-third of the extra costs during the 2004 fiscal year, and that the fuel surcharge on Virgin Atlantic had only been increased in line with increases in the cost of oil.
Overall, Virgin Atlantic earned £68 million in pre-tax profits for the year. The company posted a profit of £20.9 million the previous year.
