Virgin Atlantic to spend £100m on service and products
Virgin Atlantic has pledged to spend £100m on improving customer services and developing new products and has unveiled a 13% increase in annual revenues to £2.7bn.
It said the money would be spent over the next year on developing elements of on-board service, airport lounges and product developments within aircraft cabins.
The airline declined to disclose its full results but claimed to have recorded what it described as a "pre-tax operating profit" of £18.5m in the year to March 2011.
It said this compared to a £132m pre-tax loss for the same period last year, despite the winter closure of Heathrow and added ash cloud disruptions costing the business £40m.
Steve Ridgway, chief executive of Virgin Atlantic, said: "We have demonstrated the resilience of our business by weathering the toughest economic period for aviation and have now returned the business to profit.
"A sharp recovery in the first half of the year has been tempered by more challenged trading in the latter period due to increased capacity in the market and high fuel prices.
"This year we are investing heavily in new product innovation so that we retain and enhance our leadership in customer service and experience."
This article was first published on marketingmagazine.co.uk
- Senior Account Director - Integrated David Thatcher Recruitment to £70k, London (Central), London (Greater)
- Digital Account Manager / Senior Account Manager - Boutique Digital Agency Fill Recruitment to £35k + great benefits, London (Central), London (Greater)
- Marketing Communications Manager Stopgap £30000 - £40000 per annum, South East England
- Senior Marketing Officer Stopgap £34600 - £40834 per annum, London
- Senior Marketing Officer Stopgap £36000 - £40000 per annum, London
- Google's European leader says viewing habits are 'changing dramatically'
- Martin Sorrell talks Maurice Lévy, Tesco, and the global outlook
- Land Rover to move global ad account into Spark44
- Viacom to bring Breaking Bad to Freeview with Spike launch
- 'Advertisers are snake oil salesmen', says Peter Oborne
- Adam & Eve/DDB grabs £100,000 prize from Posterscope