Profitability remains elusive for Virgin Atlantic with another annual loss. Net debt seems very high at £3 billion.
https://corporate.virginatlantic.com...l-results.html
Virgin Atlantic Ltd (Virgin Atlantic) has released its annual financial results for the year ending 31st December 2023. Results reflect progress made in a year of sustained customer demand, as the airline capitalised on continued desire for premium leisure air travel and holidays. Virgin Atlantic reported record total revenue of £3.1 billion, up £265 million versus 2022.Continued cost discipline, combined with enhanced fleet utilisation, contributed towards record Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of £352 million. Earnings Before Interest and Taxes (EBIT) of £80 million surpassed 2019 results, achieving a key milestone on the path to sustainable profitability. Losses before tax and exceptional items narrowed to (£139) million from (£206) million in the previous year and Virgin Atlantic is on course to return to profitability in 2024. Virgin Atlantic ended the year with a robust cash position of £406 million, up from £399 million in 2022.
https://corporate.virginatlantic.com...eport_2023.pdf