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Virgin Atlantic Accelerates Out of Recession Virgin Atlantic Airways Accelerates Out of Recession With Strong Q1 Sales - Q1 total airline sales up 10% on last year - Passenger load factor up 5% points to 82% - Cargo revenue up 36% - 300 new jobs created in the UK - New corporate brand identity launched SOUTH NORWALK, Conn., July 30 - Despite a challenging economic environment, leading long haul airline, Virgin Atlantic Airways today announced strong first quarter revenue growth and increases in passenger numbers. This improvement was attributed to steady growth in both business and leisure customers including market share gains from its competitors. Steve Ridgway, Chief Executive of Virgin Atlantic, said: "The start of the year has been encouraging despite difficult trading conditions. Demand is picking up across the majority of our routes and forward bookings for the summer have been very positive. From all of the major operational challenges that we have faced this year – including snow and volcanic ash – the response from everyone at Virgin Atlantic has been outstanding." The airline stated that a strong increase in demand in its Upper Class cabin had led the revenue improvements on last year and it was also encouraged by the strong start on its new business route in Accra, Ghana. The overall revenue growth has been achieved despite the impact of the ash cloud effect in April – the airline estimates that the customer compensation and operational cost will total 30 million pounds Sterling. (...) Source : VIRGIN ATLANTIC 2010-07-30 Web : http://www.virgin-atlantic.com/

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