Virgin Atlantic joint venture with Delta, added £10m to profit

Sir Richard Branson , founder of  Virgin Atlantic,  took thirty years to  venture into expanding relationship with Delta Airlines and improving their customer service.  

Virgin Atlantic  this year started to make profit  aided by  their partnership with Delta Airline  of the US, after three years of losses. It connected 10,000 passengers a month on to its network to earn extra £10m profit.

The group promises to  surpass its record pre-tax profit of £99m recorded in 1999 by 2018. The Chief Executive Craig Kreeger who was brought on board in 2013  from American Airline to streamline the ailing carrier.

Virgin’s transatlantic  joint venture  with Delta has given UK carrier strength to face stiff competition from British Airways, which  has similar joint venture with American. All four airlines are profiting from the US economic recovery.

The group owned by Sir Richard Brandson’s Virgin Group 51 per cent and Delta 49 per cent,  has lost £300m in the last  five years to 2013.

It reported profit before tax and exceptional items of £14.4m for 2014 against a loss of £51m in 2013.

Another  reason for profit, is its effective use of new Boeing 787s in October 2014, which has better fuel efficient  for long-haul passenger jets operating from Heathrow to US destinations.