Virgin Atlantic has returned to profitability for the first time since 2016, because of a growth in passenger numbers.
The airline company reported a profit before tax and exceptional items of £20 million last year.
That compares with a loss of £139 million in 2023.
The company said it made record revenues of £3.3 billion in 2024 (up £183 million from 2023) fuelled by a 7.6% increase in passenger numbers.
It attributed this to continued demand for business and premium leisure travel.
Virgin Atlantic said it has paid down £500 million of debt incurred during the coronavirus pandemic.
Shai Weiss, Virgin Atlantic chief executive, said: “Our performance in 2024 marked a big step forward in our mission to become the most loved travel company and sustainably profitable, with record revenues and operating profit achieved in our 40th year.
“We returned to profitability for the first time since the pandemic, repaid a large chunk of debt and faced into operational challenges by taking decisive action.”
He added: “2024 was a turning point for Virgin Atlantic and the culmination of our transformation.
“We have a plan in place for 2025, with much to look forward to, including a new app, new routes to Toronto, Riyadh and Cancun, a new clubhouse in Los Angeles and greater stability for our operation.”
