Virgin Atlantic Holidays soars as it reveals record profits - with sales up 10%

Virgin Atlantic Holidays has celebrated a record-breaking pre-tax profit of £48m for 2024, experiencing a sales peak that hasn't been seen since before the Covid-19 pandemic.

The impressive figures mark a substantial improvement from the £25.4m profit recorded in 2023, as reported by City AM.

This financial resurgence aligns with Virgin Atlantic Holidays' return to profitability in the previous year, the first time since 2018.

Recent filings at Companies House indicated a sizeable increase in the firm's total revenue, which leapt from £470.9m to £516.9m.

This revenue achievement stands as the highest since the £626.5m reported in 2019.

The travel brand operates within Virgin Atlantic's domain, established by Sir Richard Branson just one year after Virgin Atlantic was founded. Offering worldwide travel experiences, its destinations span across the USA and Canada, Caribbean, Africa, Middle East, Indian Ocean, and the Far East.

Ownership of the company is split between Virgin Group with a 51% stake and Delta Air Lines holding the remaining 49%.

Looking ahead, Virgin Atlantic Holidays plans to prioritise expansion into Florida and Caribbean markets. A report approved by the board highlighted: "We regained our number one position in Florida, with growth in passenger numbers as well as in winter sun destinations such as Dubai, the Maldives and the Caribbean."

Additionally, the report noted: "Cost discipline has remained tight, following actions taken in 2020 to rationalise our retail estate and streamline operations under the unified brand programme."

Regarding its current performance, Virgin Atlantic Holidays reported robust demand for travel throughout the first quarter of 2025, with a notable increase in peak campaign sales compared to the previous year, bolstered by added capacity on routes like Dubai and the Maldives.

The statement continued: "2025 will bring further focus on our core Florida and Caribbean destinations, as we continue to focus capacity in these markets, as well as new destinations now served by Virgin Atlantic including Riyadh, Cancun and Toronto."