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Virgin Atlantic announces a loss for 2018

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Virgin Atlantic announced a £26m loss for 2018 yesterday, following a £49m loss in 2017.

Underlying numbers were more promising, with revenue rising by 5.8% to £2.78bn, passenger numbers growing by just under 5% to 5.4 million and revenue per customer rising by 1.7%.

The two core issues were the weakness of Sterling, given that jet fuel is priced in US$, and the continuing problems with the Boeing 787-9 fleet, much of which remains grounded due to problems with the Rolls-Royce engines.

Virgin Atlantic new A350 upper class

Whilst we didn’t cover it on HfP, Rolls-Royce faced a new round of engine issues last week when Singapore Airlines grounded two Boeing 787-10 aircraft due to signs of engine turbine blade cracking.  This implies that the issue is not unique to the Boeing 787-9 fleet.

Virgin Atlantic has warned that it does not expect to make financial progress in 2019 but that it should break even in 2020 and then return to profitability.  The new A350-1000 aircraft are substantially cheaper to fly than the older aircraft they replace.

Here is a link to the 2018 Annual Report if you want to find out more.

One interesting fact – over 100,000 people have signed up to the new Virgin Atlantic credit cards in the first 12 months and over £1bn has been spent.


How to earn Virgin Points from UK credit cards

How to earn Virgin Points from UK credit cards (April 2024)

As a reminder, there are various ways of earning Virgin Points from UK credit cards.  Many cards also have generous sign-up bonuses.

You can choose from two official Virgin Atlantic credit cards (apply here, the Reward+ card has a bonus of 18,000 Virgin Points and the free card has a bonus of 3,000 Virgin Points):

Virgin Atlantic Reward+ Mastercard

18,000 bonus points and 1.5 points for every £1 you spend Read our full review

Virgin Atlantic Reward Mastercard

3,000 bonus points, no fee and 1 point for every £1 you spend Read our full review

You can also earn Virgin Points from various American Express cards – and these have sign-up bonuses too.

American Express Preferred Rewards Gold is FREE for a year and comes with 20,000 Membership Rewards points, which convert into 20,000 Virgin Points.

American Express Preferred Rewards Gold

Your best beginner’s card – 20,000 points, FREE for a year & four airport lounge passes Read our full review

The Platinum Card from American Express comes with 40,000 Membership Rewards points, which convert into 40,000 Virgin Points.

The Platinum Card from American Express

40,000 bonus points and a huge range of valuable benefits – for a fee Read our full review

Small business owners should consider the two American Express Business cards. Points convert at 1:1 into Virgin Points.

American Express Business Platinum

40,000 points sign-up bonus and an annual £200 Amex Travel credit Read our full review

American Express Business Gold

20,000 points sign-up bonus and FREE for a year Read our full review

Click here to read our detailed summary of all UK credit cards which earn Virgin Points

(Want to earn more Virgin Points?  Click here to see our recent articles on Virgin Atlantic and Flying Club and click here for our home page with the latest news on earning and spending other airline and hotel points.)

Comments (96)

This article is closed to new comments. Feel free to ask your question in the HfP forums.

  • Tony says:

    Many examples on our rail network where another organisation takes over and the service provided goes downhill.

    • Save East Coast Rewards says:

      The important thing is passengers on the west coast must keep the pressure on any new operator to avoid cutbacks. We put pressure on VTEC last year when they were cutting staff numbers and failing to deliver the advertised catering on many trains.

      The only private operator I thought did an exceptional job was GNER before they hit financial difficulties. Virgin did an OK job on the west coast but BR had much more ambitious plans for the line until they had their funding cut.

  • Michael says:

    OT: My Plat card application got approved. I upgraded from Gold in order to take advantage of 20k MR when spending £1k in 3 months. Will there be something in the app that tells me how much I have to spend to get the bonus?

    • bsuije says:

      If nothing in the app, the almost certainly on the website. I’ve got something similar on BA Amex, which tells me how much I have spent to date and how much I still need to spend to hit sign-up bonus & for the 2-4-1 voucher.

    • Peter 64K says:

      Work the gold charge card to platinum upgrade very often there is no counter. It still posts alright however.

  • Anon says:

    Most of the 787-9 are flying.

  • Lee says:

    Have to save the offer on supplementary cards otherwise won’t work

  • Crafty says:

    You have to save it on the supplementary card, which has its own set of offers.

    • PaulC says:

      Oh I didn’t realise that, may have to cancel and return my order.
      I also didn’t know supplementary cards have there own offers, do you have to set up a new account for them too?

      • PaulC says:

        Cant return on Beer52, messed up big time and I don’t even like Beer, Doh!

      • Michael says:

        I made this mistake when first playing the miles and points game!

  • Grant says:

    Have you received your beer yet? I also ordered on the 8th but no dispatch email yet. Payment gone and £10 received back to main and supp cards.

    • PaulC says:

      No delivery yet. I ordered twice on two separate cards my BAPP card has the £10 credit my wife’s obviously not as above.

      • Sussex Bantam says:

        Not had mine yet – which is a little unusual as the two cases I ordered on the spend £24 get £18 back on my Platinum were processed next day.

      • Grant says:

        I’m guessing the tie up with MSE caused things to go in to meltdown

    • Alan says:

      Yep, was amazed how quickly the £10 Amex Offer credited – much quicker than others have done recently. Wonder if they’ve been working on their IT?

  • Sarah says:

    Just want to share my JetAirways experience. I had a booking with JetAirways from Manchester to Amsterdam to Delhi to Cochin to Mumbai and direct back to Manchester (direct flight was reason for booking) They first cancelled 1st internal flight with 15 days notice and then 2nd internal flight a few days later. We couldn’t get hold of anyone at JetAirways so rebooked both internal flights with Air India. A few days later the flight coming home was cancelled (again no communication so we rebooked this flight home). We were then able to speak to someone who confirmed that outbound flight was ok because it was a codeshare with KLM. We were told to fly the outbound flight then request a refund for the remaining flights. Our bookings were shown on the KLM site. When I tried to check-in online via KLM 30 hours before the flight, there were no flights showing in the booking. A phone call to KLM confirmed that JetAirways had cancelled and they hadn’t told us! Again couldn’t contact JetAirways but they finally confirmed a full refund had been processed and would take 7-10 working days. It has now been 12 working days since they said they processed full refund and again no contact. I have requested refund under credit card protection but I am still quite a bit of money out of pocket. Travel insurance only covers for delays not cancellations.

    • Alex says:

      OMG…

    • RIccatti says:

      You should have requested a chargeback at first sight of financial trouble with the merchant.

      This does impose on the merchant, making their situation somewhat worse — but unfortunately, this is the only way for a credit card company/bank to catch and freeze the funds to pay to you. Sometimes, AMEX/bank covers the claims ‘from their own pocket’ or more precisely from the funds/provisions set up for default. VISA/Mastercard likely to operate such funds on country/regional basis for their members.

      Having said that, as part of risk management, the company such as AMEX will be proactively holding the funds in anticipation of claims against a defaulting merchant.

    • Nick_C says:

      If you paid with a UK credit card you are covered by S75, both for the cost of the flights and consequential loss.

  • bsuije says:

    O/T

    Is there a minimum amount of points that need to accrued on the SPG card before they sweep over to Marriott?

    I have a small amount showing on Amex online, and by the looks of it nothing has left my account in the past 2 months…

    • bsuije says:

      Nevermind… I’ve looked at my Bonvoy account and points have been transferred regularly; just seems that they don’t show on the Amex account (or my one, at least) as transfers.

This article is closed to new comments. Feel free to ask your question in the HfP forums.

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