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4th Apr 2002, 10:37
from ananova.com
Virgin Express airline says it finished 2001 in the black despite the post-September 11 disruption in air travel.
The Brussels-based budget carrier, an offshoot of Sir Richard Branson's business interests, made a net profit of £79,000 - its first since 1998 and a welcome reversal from the £40 million loss in 2000.
Chairman David Hoare said the 2001 results would have been even better were it not for the bankruptcy of Belgian national flag carrier Sabena.
A code-sharing agreement between the two airlines accounted for 40% of Virgin Express' revenue, he said.
"However, since being freed from the constraints of the Sabena contract, we have worked hard to replace the lost income by creating a wider network," he said.
Story filed: 11:40 Thursday 4th April 2002
Virgin Express airline says it finished 2001 in the black despite the post-September 11 disruption in air travel.
The Brussels-based budget carrier, an offshoot of Sir Richard Branson's business interests, made a net profit of £79,000 - its first since 1998 and a welcome reversal from the £40 million loss in 2000.
Chairman David Hoare said the 2001 results would have been even better were it not for the bankruptcy of Belgian national flag carrier Sabena.
A code-sharing agreement between the two airlines accounted for 40% of Virgin Express' revenue, he said.
"However, since being freed from the constraints of the Sabena contract, we have worked hard to replace the lost income by creating a wider network," he said.
Story filed: 11:40 Thursday 4th April 2002