No return to profitability until 2023.  That’s the word from Virgin Atlantic.

Shai Weiss, Chief Executive Officer, Virgin Atlantic,  paid tribute to the 'spirit' among the airline's staff.

Virgin last Wednesday (6 April) revealed a full-year loss (year to 31 December 2021) of £594m before tax and exceptional items; total revenue came in at £928m, up £60m on 2020 but far short of the £2.9bn it took in 2019.

It ended 2021 with £580m in cash, achieved – said Virgin – thanks to £670m in new capital, including £400m investment from shareholders, the balance in cost savings.

Additionally, Virgin said the reopening of the UK-US transatlantic travel corridor in November had allowed the airline to ramp up operations in the final quarter, welcoming back more than 1,100 air crew and pilots "from holding pools created as part of the 2020 response to the pandemic".

Weiss paid tribute to Virgin’s staff for their spirit. "Together we turn our focus to the opportunity ahead and look forward to 2022 as a year of transition, from survival to recovery and on to profitability by 2023," he said added. "While we have learned we can’t predict the future and there will be significant challenges ahead, the outlook is full of promise."

www.virginatlantic.com