Branson Pockets Millions From Virgin Brand Usage
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Branson Pockets Millions From Virgin Brand Usage
Asia Pulse
Thursday October 9, 10:08 AM AEST
Branson Pockets Millions From Virgin Brand Usage
SYDNEY, Oct 9 Asia Pulse - The United Kingdom's Sir Richard Branson, co-owner of Virgin Blue Airlines Pty Ltd, has reportedly pocketed millions from letting the Australian airline Virgin Blue use the Virgin brand.
According to the the Australian Financial Review, Sir Richard Branson pocketed $A7.5 million ($US5.16 million) in dividends and $4.2 million for letting the airline use the Virgin brand name last financial year.
The paper said accounts for the year to March 31, 2003, lodged with the Australian Securities and Investments Commission, also showed Virgin Blue generated operating cashflow of more than $190 million last financial year, after just three years in the business.
The airline was also sitting on "what market watchers speculate is about $320 million in cash".
The paper said Virgin Blue, with about 30 per cent of Australia's domestic aviation market, generated revenue of $924.3 million in 2002/03, compared to $390.9 million the previous year.
The airline's net profit more than trebled to $110 million in 2002/03, from $35.3 million previously.
"The payment he (Sir Richard) gets for lending the moniker is only set to increase with the annual charge calculated based on a fixed percentage of revenue," the paper said.
ASIA PULSE
============================================
Up to Date Virgin Blue fleet update
Note: that 2 more Pacific Blue planes VH-VOP & VH-VOQ to join
before end of this month.
http://www.anthonytubbs.com/fleet.htm
Thanks to Anthony Tubbs for his work on keeping this data up
to date.
============================================
Thursday October 9, 10:08 AM AEST
Branson Pockets Millions From Virgin Brand Usage
SYDNEY, Oct 9 Asia Pulse - The United Kingdom's Sir Richard Branson, co-owner of Virgin Blue Airlines Pty Ltd, has reportedly pocketed millions from letting the Australian airline Virgin Blue use the Virgin brand.
According to the the Australian Financial Review, Sir Richard Branson pocketed $A7.5 million ($US5.16 million) in dividends and $4.2 million for letting the airline use the Virgin brand name last financial year.
The paper said accounts for the year to March 31, 2003, lodged with the Australian Securities and Investments Commission, also showed Virgin Blue generated operating cashflow of more than $190 million last financial year, after just three years in the business.
The airline was also sitting on "what market watchers speculate is about $320 million in cash".
The paper said Virgin Blue, with about 30 per cent of Australia's domestic aviation market, generated revenue of $924.3 million in 2002/03, compared to $390.9 million the previous year.
The airline's net profit more than trebled to $110 million in 2002/03, from $35.3 million previously.
"The payment he (Sir Richard) gets for lending the moniker is only set to increase with the annual charge calculated based on a fixed percentage of revenue," the paper said.
ASIA PULSE
============================================
Up to Date Virgin Blue fleet update
Note: that 2 more Pacific Blue planes VH-VOP & VH-VOQ to join
before end of this month.
http://www.anthonytubbs.com/fleet.htm
Thanks to Anthony Tubbs for his work on keeping this data up
to date.
============================================
Last edited by Wirraway; 9th Oct 2003 at 13:56.
